Wambolt & Associates LLC Sells 2,125 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Wambolt & Associates LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 16.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,614 shares of the oil and gas producer’s stock after selling 2,125 shares during the quarter. Wambolt & Associates LLC’s holdings in Enterprise Products Partners were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blackstone Inc. boosted its position in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares in the last quarter. Energy Income Partners LLC grew its position in shares of Enterprise Products Partners by 0.9% in the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after buying an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 2.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after acquiring an additional 284,772 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its position in Enterprise Products Partners by 1.6% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after acquiring an additional 87,930 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.41 on Friday. The business has a 50-day simple moving average of $29.18 and a two-hundred day simple moving average of $28.80. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market cap of $63.87 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.14%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is presently 82.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley dropped their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. reduced their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

Enterprise Products Partners Company 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.