Enterprise Products Partners L.P. $EPD Stake Trimmed by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,869,425 shares of the oil and gas producer’s stock after selling 162,172 shares during the period. Enterprise Products Partners comprises 9.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 2nd biggest position. Kayne Anderson Capital Advisors LP’s holdings in Enterprise Products Partners were worth $473,080,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $31,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the second quarter valued at $37,000. Bravera Wealth grew its holdings in Enterprise Products Partners by 666.7% during the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares during the period. BOK Financial Private Wealth Inc. purchased a new stake in Enterprise Products Partners in the second quarter worth $48,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at $48,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.8%

NYSE:EPD opened at $38.41 on Friday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The stock’s fifty day moving average price is $37.65 and its two-hundred day moving average price is $37.51. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company has a market cap of $82.95 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.26 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 3.01 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EPD. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Citigroup reissued a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. TD Cowen restated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.