Enterprise Products Partners L.P. $EPD Position Lifted by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,515,066 shares of the oil and gas producer’s stock after acquiring an additional 81,135 shares during the quarter. Enterprise Products Partners comprises 6.8% of Chickasaw Capital Management LLC’s holdings, making the stock its 8th biggest position. Chickasaw Capital Management LLC’s holdings in Enterprise Products Partners were worth $171,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after purchasing an additional 457,045 shares in the last quarter. BROOKFIELD Corp ON boosted its position in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after buying an additional 128,545 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Enterprise Products Partners by 3.6% during the 1st quarter. LPL Financial LLC now owns 3,445,293 shares of the oil and gas producer’s stock valued at $117,622,000 after purchasing an additional 119,069 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.8%

NYSE EPD opened at $32.04 on Thursday. The company has a market cap of $69.37 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.99 and a beta of 0.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The business has a fifty day moving average price of $31.57 and a 200 day moving average price of $31.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the firm earned $0.64 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were paid a $0.545 dividend. The ex-dividend date was Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Insiders Place Their Bets

In related news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays dropped their price target on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Scotiabank upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley dropped their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. Finally, Stifel Nicolaus reduced their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.83.

Enterprise Products Partners 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.