RR Advisors LLC Cuts Holdings in Enterprise Products Partners L.P. $EPD

RR Advisors LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 22.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 351,930 shares of the oil and gas producer’s stock after selling 100,000 shares during the quarter. Enterprise Products Partners accounts for about 3.7% of RR Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. RR Advisors LLC’s holdings in Enterprise Products Partners were worth $12,937,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $37,000. Bravera Wealth increased its stake in shares of Enterprise Products Partners by 666.7% during the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the second quarter worth $48,000. Finally, Kestra Investment Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EPD. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Citigroup reissued a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. 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 Trading Up 0.3%

Shares of NYSE EPD opened at $38.12 on Monday. The company has a market cap of $82.32 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock’s 50 day simple moving average is $37.67 and its 200 day simple moving average is $37.54.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the prior year, the business earned $0.66 EPS. The firm’s revenue was up 60.8% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company 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 an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 77.78%.

Enterprise Products Partners 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.