Enterprise Products Partners L.P. $EPD Shares Sold by ZEGA Investments LLC

ZEGA Investments LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.3% in the second quarter, HoldingsChannel reports. The firm owned 25,563 shares of the oil and gas producer’s stock after selling 15,870 shares during the quarter. ZEGA Investments LLC’s holdings in Enterprise Products Partners were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Sigma Planning Corp boosted its stake in shares of Enterprise Products Partners by 0.8% in the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock worth $1,297,000 after buying an additional 270 shares during the last quarter. Everest Financial Group LLC boosted its holdings in Enterprise Products Partners by 3.6% in the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 271 shares during the last quarter. Renasant Bank grew its holdings in shares of Enterprise Products Partners by 1.3% during the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock worth $778,000 after buying an additional 271 shares in the last quarter. Walker Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 1.4% in the second quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after buying an additional 282 shares in the last quarter. Finally, Hobbs Group Advisors LLC boosted its stake in Enterprise Products Partners by 1.4% during the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after buying an additional 298 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. TD Cowen reiterated a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Wall Street Zen cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Scotiabank restated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, UBS Group reissued a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $39.25 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. The firm has a market cap of $84.76 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.44 and a beta of 0.50. Enterprise Products Partners L.P. has a 12-month low of $30.01 and a 12-month high of $40.17. The company’s 50 day simple moving average is $38.09 and its 200-day simple moving average is $37.77.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS 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 analysts’ expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.