Covenant Asset Management LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,480 shares of the oil and gas producer’s stock after buying an additional 1,675 shares during the period. Enterprise Products Partners L.P. comprises 1.2% of Covenant Asset Management LLC’s portfolio, making the stock its 28th largest position. Covenant Asset Management LLC’s holdings in Enterprise Products Partners L.P. were worth $1,827,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Evanson Asset Management LLC increased its stake in Enterprise Products Partners L.P. by 1.0% in the first quarter. Evanson Asset Management LLC now owns 110,131 shares of the oil and gas producer’s stock valued at $3,041,000 after buying an additional 1,110 shares during the period. North American Management Corp increased its stake in Enterprise Products Partners L.P. by 6.1% in the first quarter. North American Management Corp now owns 175,930 shares of the oil and gas producer’s stock valued at $4,857,000 after buying an additional 10,121 shares during the period. Telemus Capital LLC increased its stake in Enterprise Products Partners L.P. by 0.9% in the first quarter. Telemus Capital LLC now owns 73,021 shares of the oil and gas producer’s stock valued at $2,016,000 after buying an additional 679 shares during the period. Karp Capital Management Corp acquired a new stake in Enterprise Products Partners L.P. during the first quarter valued at approximately $502,000. Finally, Warren Averett Asset Management LLC acquired a new stake in Enterprise Products Partners L.P. during the first quarter valued at approximately $225,000. 38.69% of the stock is currently owned by institutional investors.

Shares of Enterprise Products Partners L.P. (EPD) traded up 0.1721% during midday trading on Thursday, hitting $26.3052. The stock had a trading volume of 958,530 shares. Enterprise Products Partners L.P. has a 12 month low of $24.01 and a 12 month high of $30.25. The stock’s 50 day moving average price is $27.03 and its 200 day moving average price is $27.45. The firm has a market cap of $56.50 billion, a price-to-earnings ratio of 20.6965 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post $1.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were issued a $0.42 dividend. The ex-dividend date was Thursday, July 27th. This is a boost 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 yield of 6.40%. Enterprise Products Partners L.P.’s payout ratio is currently 132.28%.

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Several equities research analysts have commented on EPD shares. BMO Capital Markets set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Monday, June 5th. Guggenheim started coverage on shares of Enterprise Products Partners L.P. in a report on Monday, April 17th. They set a “buy” rating and a $32.00 price objective on the stock. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a report on Friday, July 21st. 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. Finally, BidaskClub raised shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $31.81.

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.

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

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