Cullinan Associates Inc. cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 105,410 shares of the oil and gas producer’s stock after selling 5,300 shares during the period. Cullinan Associates Inc.’s holdings in Enterprise Products Partners L.P. were worth $2,855,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. TNB Financial acquired a new position in Enterprise Products Partners L.P. during the first quarter worth about $1,429,000. Honkamp Krueger Financial Services Inc. increased its position in Enterprise Products Partners L.P. by 30.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 34,848 shares of the oil and gas producer’s stock worth $962,000 after buying an additional 8,204 shares during the last quarter. Schneider Downs Wealth Management Advisors LP acquired a new position in Enterprise Products Partners L.P. during the first quarter worth about $223,000. Prospera Financial Services Inc increased its position in Enterprise Products Partners L.P. by 3.0% in the first quarter. Prospera Financial Services Inc now owns 53,354 shares of the oil and gas producer’s stock worth $1,472,000 after buying an additional 1,558 shares during the last quarter. Finally, North American Management Corp increased its position in Enterprise Products Partners L.P. by 6.1% in the first quarter. North American Management Corp now owns 175,930 shares of the oil and gas producer’s stock worth $4,857,000 after buying an additional 10,121 shares during the last quarter. 38.69% of the stock is currently owned by institutional investors.

Enterprise Products Partners L.P. (EPD) traded down 0.69% during midday trading on Friday, hitting $25.90. 4,101,658 shares of the stock traded hands. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The company’s 50 day moving average price is $27.03 and its 200 day moving average price is $27.43. The firm has a market cap of $55.63 billion, a PE ratio of 20.38 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The business had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter last year, the business earned $0.27 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Equities research analysts predict that Enterprise Products Partners L.P. will post $1.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were given a dividend of $0.42 per share. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, July 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.49%. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is 132.28%.

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A number of equities analysts recently issued reports on EPD shares. Guggenheim assumed coverage on shares of Enterprise Products Partners L.P. in a report on Monday, April 17th. They issued a “buy” rating and a $32.00 price objective on the stock. Macquarie reaffirmed an “outperform” rating and set a $32.00 price target on shares of Enterprise Products Partners L.P. in a report on Friday, April 21st. Vetr raised shares of Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 price target on the stock in a report on Monday, April 24th. Sanford C. Bernstein assumed coverage on shares of Enterprise Products Partners L.P. in a report on Tuesday, May 16th. They set an “outperform” rating on the stock. Finally, BMO Capital Markets set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Enterprise Products Partners L.P. has a consensus rating of “Buy” and an average price target of $31.62.

About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners L.P. (NYSE:EPD)

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