King Luther Capital Management Corp Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

King Luther Capital Management Corp decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 254,085 shares of the oil and gas producer’s stock after selling 21,826 shares during the quarter. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. raised its holdings in Enterprise Products Partners by 8.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 4,897 shares of the oil and gas producer’s stock worth $128,000 after purchasing an additional 371 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Enterprise Products Partners by 3.3% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,969 shares of the oil and gas producer’s stock worth $328,000 after purchasing an additional 386 shares during the period. Ellsworth Advisors LLC raised its holdings in Enterprise Products Partners by 1.9% in the 4th quarter. Ellsworth Advisors LLC now owns 21,173 shares of the oil and gas producer’s stock worth $558,000 after purchasing an additional 393 shares during the period. Register Financial Advisors LLC raised its holdings in Enterprise Products Partners by 2.3% in the 4th quarter. Register Financial Advisors LLC now owns 17,320 shares of the oil and gas producer’s stock worth $456,000 after purchasing an additional 397 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its holdings in Enterprise Products Partners by 1.2% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 34,468 shares of the oil and gas producer’s stock worth $943,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus price target of $32.69.

Enterprise Products Partners Trading Down 0.2 %

Enterprise Products Partners stock traded down $0.05 during mid-day trading on Thursday, hitting $28.38. The company’s stock had a trading volume of 1,205,107 shares, compared to its average volume of 4,812,698. The firm has a market capitalization of $61.63 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Enterprise Products Partners L.P. has a 1 year low of $25.19 and a 1 year high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $28.83 and its two-hundred day moving average is $27.50.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.26%. Enterprise Products Partners’s payout ratio is 80.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.