Corient Private Wealth LP Has $99.12 Million Stake in Enterprise Products Partners L.P. $EPD

Corient Private Wealth LP cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,696,410 shares of the oil and gas producer’s stock after selling 45,273 shares during the quarter. Corient Private Wealth LP owned about 0.12% of Enterprise Products Partners worth $99,119,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EPD. Royal Palms Capital LLC acquired a new position in shares of Enterprise Products Partners in the 4th quarter valued at approximately $1,830,000. Oxbow Advisors LLC raised its holdings in Enterprise Products Partners by 3.0% during the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after buying an additional 39,052 shares during the period. Texas Yale Capital Corp. raised its holdings in Enterprise Products Partners by 4.9% during the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after buying an additional 88,475 shares during the period. Thrivent Financial for Lutherans lifted its stake in Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after buying an additional 327,807 shares in the last quarter. Finally, Evolve Private Wealth LLC boosted its holdings in shares of Enterprise Products Partners by 662.0% in the first quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock valued at $5,846,000 after buying an additional 134,218 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EPD shares. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. UBS Group reissued a “buy” rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. TD Cowen reaffirmed a “hold” rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Finally, Citigroup reiterated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $39.09 on Thursday. The stock has a market capitalization of $84.41 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.26 and a beta of 0.49. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm has a fifty day simple moving average of $37.79 and a 200 day simple moving average of $37.62. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the business earned $0.66 EPS. The company’s revenue was up 60.8% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.