Pointe Capital Management LLC decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,221 shares of the oil and gas producer’s stock after selling 3,615 shares during the period. Enterprise Products Partners L.P. accounts for about 3.1% of Pointe Capital Management LLC’s portfolio, making the stock its 2nd largest position. Pointe Capital Management LLC’s holdings in Enterprise Products Partners L.P. were worth $4,366,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its position in shares of Enterprise Products Partners L.P. by 6.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 7,000 shares of the oil and gas producer’s stock worth $193,000 after buying an additional 405 shares during the last quarter. Chickasaw Capital Management LLC raised its position in shares of Enterprise Products Partners L.P. by 40.5% in the first quarter. Chickasaw Capital Management LLC now owns 14,566,207 shares of the oil and gas producer’s stock worth $402,173,000 after buying an additional 4,202,364 shares during the last quarter. Mycio Wealth Partners LLC raised its position in shares of Enterprise Products Partners L.P. by 1.3% in the first quarter. Mycio Wealth Partners LLC now owns 12,615 shares of the oil and gas producer’s stock worth $348,000 after buying an additional 156 shares during the last quarter. Dubuque Bank & Trust Co. raised its position in shares of Enterprise Products Partners L.P. by 222.6% in the first quarter. Dubuque Bank & Trust Co. now owns 3,790 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 2,615 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its position in shares of Enterprise Products Partners L.P. by 1.0% in the first quarter. Delta Asset Management LLC TN now owns 19,503 shares of the oil and gas producer’s stock worth $538,000 after buying an additional 195 shares during the last quarter. 37.85% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners L.P. (EPD) opened at 25.50 on Wednesday. The firm has a market capitalization of $54.77 billion, a P/E ratio of 20.06 and a beta of 0.89. The company’s 50-day moving average is $26.64 and its 200-day moving average is $27.20. Enterprise Products Partners L.P. has a one year low of $24.01 and a one year high of $30.25.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.03. The business 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 net margin of 10.28% and a return on equity of 12.04%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post $1.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were issued a dividend of $0.42 per share. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend was Thursday, July 27th. Enterprise Products Partners L.P.’s dividend payout ratio is presently 132.28%.

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A number of brokerages have weighed in on EPD. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price target on shares of Enterprise Products Partners L.P. in a research note on Friday, July 14th. Scotiabank set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a research note on Friday, July 21st. Sanford C. Bernstein began coverage on shares of Enterprise Products Partners L.P. in a research note on Tuesday, May 16th. They issued an “outperform” rating on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $33.00 price target on shares of Enterprise Products Partners L.P. in a research note on Wednesday, July 12th. Finally, BidaskClub raised shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Enterprise Products Partners L.P. has a consensus rating of “Buy” and a consensus target price of $31.62.

Enterprise Products Partners L.P. Company Profile

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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