Corient Private Wealth LP Sells 45,273 Shares of Enterprise Products Partners L.P. $EPD

Corient Private Wealth LP lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,696,410 shares of the oil and gas producer’s stock after selling 45,273 shares during the quarter. Corient Private Wealth LP’s holdings in Enterprise Products Partners were worth $99,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $37,000. Bravera Wealth lifted its stake in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 900 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $48,000. Finally, Kestra Investment Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $48,000. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EPD. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley restated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $39.09 on Thursday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a market cap of $84.41 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.26 and a beta of 0.49. The firm’s fifty day moving average price is $37.79 and its two-hundred day moving average price is $37.62. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company 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%. Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.66 EPS. Equities analysts expect 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. Shareholders of record on Friday, July 31st were issued 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 payout ratio is currently 77.78%.

Enterprise Products Partners 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.