Corient Private Wealth LP Lowers Holdings in Enterprise Products Partners L.P. $EPD

Corient Private Wealth LP decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,643,627 shares of the oil and gas producer’s stock after selling 98,056 shares during the quarter. Corient Private Wealth LP’s holdings in Enterprise Products Partners were worth $97,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Auto Owners Insurance Co lifted its position in Enterprise Products Partners by 3,106.0% in the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. Energy Income Partners LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter worth $508,461,000. Bank of America Corp DE bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $416,553,000. BlackRock Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $255,325,000. Finally, Berkley W R Corp purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $250,887,000. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EPD. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target 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. UBS Group restated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Finally, Stifel Nicolaus began coverage on shares of Enterprise Products Partners in a research note on Thursday. They issued a “hold” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.87.

Enterprise Products Partners Price Performance

NYSE EPD opened at $38.94 on Friday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a market cap of $84.09 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.44 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock’s fifty day moving average price is $38.38 and its 200 day moving average price is $37.87.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company’s revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners’s payout ratio is currently 77.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.