ZEGA Investments LLC Sells 15,870 Shares of Enterprise Products Partners L.P. $EPD

ZEGA Investments LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 38.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,563 shares of the oil and gas producer’s stock after selling 15,870 shares during the quarter. ZEGA Investments LLC’s holdings in Enterprise Products Partners were worth $940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Palms Capital LLC bought a new stake in Enterprise Products Partners in the 4th quarter worth $1,830,000. Oxbow Advisors LLC grew its stake in shares of Enterprise Products Partners by 3.0% in 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 last quarter. Texas Yale Capital Corp. grew its position 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 valued at $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock worth $144,592,000 after purchasing an additional 327,807 shares in the last quarter. Finally, Evolve Private Wealth LLC raised its holdings in shares of Enterprise Products Partners by 662.0% during 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 purchasing an additional 134,218 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on EPD. JPMorgan Chase & Co. increased their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Scotiabank reissued a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. The Goldman Sachs Group restated a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Stock Performance

EPD stock opened at $39.25 on Friday. The company has a market capitalization of $84.76 billion, a P/E ratio of 13.63, a PEG ratio of 1.44 and a beta of 0.50. The business has a 50-day moving average price of $38.09 and a 200 day moving average price of $37.77. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.Enterprise Products Partners’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, equities 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 company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

Enterprise Products Partners Company 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.