Enterprise Products Partners L.P. (NYSE:EPD) Position Cut by CWA Asset Management Group LLC

CWA Asset Management Group LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,595 shares of the oil and gas producer’s stock after selling 1,100 shares during the period. CWA Asset Management Group LLC’s holdings in Enterprise Products Partners L.P. were worth $348,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Chickasaw Capital Management LLC increased its stake in Enterprise Products Partners L.P. by 40.5% in the first quarter. Chickasaw Capital Management LLC now owns 14,566,207 shares of the oil and gas producer’s stock worth $402,173,000 after buying an additional 4,202,364 shares during the period. Ameriprise Financial Inc. increased its stake in Enterprise Products Partners L.P. by 38.0% in the first quarter. Ameriprise Financial Inc. now owns 7,334,276 shares of the oil and gas producer’s stock worth $202,351,000 after buying an additional 2,018,930 shares during the period. American Century Companies Inc. increased its stake in Enterprise Products Partners L.P. by 18.2% in the first quarter. American Century Companies Inc. now owns 6,964,325 shares of the oil and gas producer’s stock worth $192,285,000 after buying an additional 1,072,931 shares during the period. Kayne Anderson Capital Advisors LP increased its position in Enterprise Products Partners L.P. by 3.3% in the first quarter. Kayne Anderson Capital Advisors LP now owns 32,686,057 shares of the oil and gas producer’s stock valued at $902,446,000 after buying an additional 1,044,310 shares during the period. Finally, Wexford Capital LP increased its position in Enterprise Products Partners L.P. by 41.7% in the first quarter. Wexford Capital LP now owns 3,048,148 shares of the oil and gas producer’s stock valued at $84,159,000 after buying an additional 896,553 shares during the period. 38.52% of the stock is owned by institutional investors.

Shares of Enterprise Products Partners L.P. (EPD) opened at 27.65 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $24.01 and a 12-month high of $30.25. The firm has a 50-day moving average price of $26.79 and a 200 day moving average price of $27.40. The stock has a market cap of $59.07 billion, a PE ratio of 22.39 and a beta of 0.89.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $6.05 billion. Enterprise Products Partners L.P. had a return on equity of 11.73% and a net margin of 10.31%. Enterprise Products Partners L.P.’s quarterly revenue was up 46.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post $1.41 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Monday, July 31st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.08%. This is a positive change from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, July 27th. Enterprise Products Partners L.P.’s payout ratio is presently 133.87%.

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Several research analysts have recently issued reports on EPD shares. BidaskClub raised Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Macquarie reaffirmed an “outperform” rating and set a $32.00 price target on shares of Enterprise Products Partners L.P. in a research note on Friday, April 21st. Jefferies Group LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a research note on Tuesday, April 4th. Guggenheim started coverage on Enterprise Products Partners L.P. in a research note on Monday, April 17th. They set a “buy” rating and a $32.00 price target for the company. Finally, Vetr raised Enterprise Products Partners L.P. from a “buy” rating to a “strong-buy” rating and set a $31.42 price target for the company in a research note on Monday, April 24th. One research analyst has rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $32.05.

About Enterprise Products Partners L.P.

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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