Kings Point Capital Management decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 292,326 shares of the company’s stock after selling 5,737 shares during the period. Enterprise Products Partners L.P. accounts for 2.1% of Kings Point Capital Management’s portfolio, making the stock its 15th largest position. Kings Point Capital Management’s holdings in Enterprise Products Partners L.P. were worth $8,077,000 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. State Street Corp increased its position in Enterprise Products Partners L.P. by 5.6% in the first quarter. State Street Corp now owns 1,121,620 shares of the company’s stock worth $27,615,000 after buying an additional 59,921 shares in the last quarter. AMP Capital Investors Ltd purchased a new position in Enterprise Products Partners L.P. during the first quarter worth about $816,000. Envestnet Asset Management Inc. increased its position in Enterprise Products Partners L.P. by 55.1% in the first quarter. Envestnet Asset Management Inc. now owns 81,755 shares of the company’s stock worth $2,013,000 after buying an additional 29,046 shares in the last quarter. First Republic Investment Management Inc. purchased a new position in Enterprise Products Partners L.P. during the first quarter worth about $4,205,000. Finally, First American Trust FSB purchased a new position in Enterprise Products Partners L.P. during the second quarter worth about $296,000. Hedge funds and other institutional investors own 36.05% of the company’s stock.

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

Shares of Enterprise Products Partners L.P. (NYSE:EPD) traded down 1.42% during midday trading on Tuesday, hitting $25.08. The stock had a trading volume of 3,869,790 shares. The firm has a market cap of $52.72 billion, a price-to-earnings ratio of 20.41 and a beta of 0.90. Enterprise Products Partners L.P. has a 12-month low of $19.00 and a 12-month high of $30.11. The company’s 50-day moving average price is $25.91 and its 200-day moving average price is $27.25.

Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings results on Thursday, October 27th. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm earned $5.92 billion during the quarter, compared to the consensus estimate of $5.87 billion. Enterprise Products Partners L.P. had a return on equity of 11.95% and a net margin of 11.19%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post $1.25 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were given a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 6.37%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, October 27th. Enterprise Products Partners L.P.’s dividend payout ratio is 131.71%.

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EPD has been the topic of a number of research reports. Vetr upgraded Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.50 price target on the stock in a research note on Monday, August 1st. Morgan Stanley cut Enterprise Products Partners L.P. from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $33.00 to $30.00 in a research report on Thursday, August 18th. Credit Suisse Group AG set a $34.00 price objective on Enterprise Products Partners L.P. and gave the stock a “hold” rating in a research report on Thursday, August 18th. Wunderlich decreased their price objective on Enterprise Products Partners L.P. from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, August 31st. Finally, Evercore ISI began coverage on Enterprise Products Partners L.P. in a research report on Thursday, September 15th. They set a “buy” rating and a $30.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $31.62.

In other news, Director Carin Marcy Barth bought 4,000 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was purchased at an average cost of $25.27 per share, for a total transaction of $101,080.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 37.50% of the stock is owned by company insiders.

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.

5 Day Chart for NYSE:EPD

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