Granite Investment Partners LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,684 shares of the oil and gas producer’s stock after selling 2,490 shares during the period. Granite Investment Partners LLC’s holdings in Enterprise Products Partners L.P. were worth $235,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of EPD. Day & Ennis LLC boosted its stake in Enterprise Products Partners L.P. by 0.3% in the first quarter. Day & Ennis LLC now owns 8,057 shares of the oil and gas producer’s stock valued at $222,000 after buying an additional 26 shares in the last quarter. Camarda Financial Advisors LLC boosted its position in shares of Enterprise Products Partners L.P. by 0.6% in the second quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock valued at $131,000 after buying an additional 27 shares in the last quarter. Focused Wealth Management Inc boosted its position in shares of Enterprise Products Partners L.P. by 0.3% in the first quarter. Focused Wealth Management Inc now owns 11,788 shares of the oil and gas producer’s stock valued at $325,000 after buying an additional 33 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Enterprise Products Partners L.P. by 0.5% in the first quarter. Sunbelt Securities Inc. now owns 8,124 shares of the oil and gas producer’s stock valued at $224,000 after buying an additional 40 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its position in shares of Enterprise Products Partners L.P. by 0.5% in the second quarter. Patten & Patten Inc. TN now owns 9,487 shares of the oil and gas producer’s stock valued at $257,000 after buying an additional 44 shares in the last quarter. 37.85% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners L.P. (EPD) opened at 25.50 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $24.01 and a 12-month high of $30.25. The stock has a 50 day moving average price of $26.64 and a 200-day moving average price of $27.20. The firm has a market capitalization of $54.77 billion, a PE ratio of 20.06 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.44 billion. Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post $1.37 EPS for the current year.

The company also recently declared 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 represents a $1.68 dividend on an annualized basis and a dividend yield of 6.59%. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, July 27th. Enterprise Products Partners L.P.’s dividend payout ratio (DPR) is currently 132.28%.

TRADEMARK VIOLATION NOTICE: “Enterprise Products Partners L.P. (EPD) Position Decreased by Granite Investment Partners LLC” was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://www.watchlistnews.com/enterprise-products-partners-l-p-epd-position-decreased-by-granite-investment-partners-llc/1530872.html.

EPD has been the subject of several research reports. Sanford C. Bernstein initiated coverage on Enterprise Products Partners L.P. in a report on Tuesday, May 16th. They set an “outperform” rating for the company. BMO Capital Markets set a $33.00 price objective on Enterprise Products Partners L.P. and gave the stock a “buy” rating in a report on Monday, June 5th. Morgan Stanley raised Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $26.37 to $26.50 in a report on Thursday, June 15th. BidaskClub raised Enterprise Products Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price objective on shares of Enterprise Products Partners L.P. in a report on Friday, July 14th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Enterprise Products Partners L.P. currently has a consensus rating of “Buy” and a consensus target price 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.

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

Receive News & Ratings for Enterprise Products Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.