Wealthspire Advisors LLC Has $1.78 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Wealthspire Advisors LLC decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 15.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,500 shares of the oil and gas producer’s stock after selling 11,432 shares during the quarter. Wealthspire Advisors LLC’s holdings in Enterprise Products Partners were worth $1,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Blackstone Inc. increased its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after buying an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares during the last quarter. Energy Income Partners LLC raised its holdings in shares of Enterprise Products Partners by 0.9% during the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after purchasing an additional 142,689 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Enterprise Products Partners by 2.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after purchasing an additional 284,772 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its holdings in Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock worth $159,901,000 after purchasing an additional 87,930 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EPD. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Finally, Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Up 0.7 %

Shares of Enterprise Products Partners stock opened at $29.62 on Friday. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The business has a fifty day simple moving average of $29.20 and a 200 day simple moving average of $28.83. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market cap of $64.32 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.09%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.