Cypress Wealth Advisors LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 76.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,000 shares of the oil and gas producer’s stock after selling 54,860 shares during the quarter. Cypress Wealth Advisors LLC’s holdings in Enterprise Products Partners L.P. were worth $460,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Tortoise Capital Advisors L.L.C. raised its position in Enterprise Products Partners L.P. by 3.9% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 41,667,941 shares of the oil and gas producer’s stock worth $1,128,368,000 after buying an additional 1,573,553 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Enterprise Products Partners L.P. by 3.3% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 32,686,057 shares of the oil and gas producer’s stock worth $902,446,000 after buying an additional 1,044,310 shares during the last quarter. Fayez Sarofim & Co. raised its position in Enterprise Products Partners L.P. by 1.4% in the 2nd quarter. Fayez Sarofim & Co. now owns 19,351,983 shares of the oil and gas producer’s stock worth $524,052,000 after buying an additional 268,191 shares during the last quarter. Neuberger Berman Group LLC raised its position in Enterprise Products Partners L.P. by 7.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 19,163,137 shares of the oil and gas producer’s stock worth $518,938,000 after buying an additional 1,357,877 shares during the last quarter. Finally, Fayez Sarofim & Co raised its position in Enterprise Products Partners L.P. by 0.6% in the 1st quarter. Fayez Sarofim & Co now owns 19,083,792 shares of the oil and gas producer’s stock worth $526,904,000 after buying an additional 109,422 shares during the last quarter. 37.56% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages have weighed in on EPD. Stifel Nicolaus reissued a “buy” rating and issued a $33.00 target price on shares of Enterprise Products Partners L.P. in a research report on Friday, July 14th. Scotiabank set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a research report on Friday, July 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a research report on Wednesday, July 12th. BidaskClub raised shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $31.00 price target (down previously from $33.00) on shares of Enterprise Products Partners L.P. in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.99.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS 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 business had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. Enterprise Products Partners L.P.’s revenue for the quarter was up 17.6% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Shareholders of record on Tuesday, October 31st will be given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 6.34%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s payout ratio is currently 132.28%.

Enterprise Products Partners L.P. Profile

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.

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

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