Keybank National Association OH Has $3.22 Million Position in Enterprise Products Partners L.P. $EPD

Keybank National Association OH reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,856 shares of the oil and gas producer’s stock after selling 13,141 shares during the period. Keybank National Association OH’s holdings in Enterprise Products Partners were worth $3,221,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in EPD. Per Stirling Capital Management LLC. boosted its stake in Enterprise Products Partners by 1.5% in the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock valued at $804,000 after buying an additional 339 shares in the last quarter. Tranquility Partners LLC boosted its stake in Enterprise Products Partners by 1.4% in the 2nd quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after buying an additional 339 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Enterprise Products Partners by 2.1% in the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock valued at $521,000 after purchasing an additional 340 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock valued at $600,000 after purchasing an additional 347 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Enterprise Products Partners by 1.2% in the 1st quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer’s stock valued at $1,106,000 after purchasing an additional 372 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPD. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Scotiabank reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned 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 $36.09.

Enterprise Products Partners Stock Down 2.6%

NYSE:EPD opened at $30.75 on Friday. The stock’s fifty day moving average price is $31.42 and its two-hundred day moving average price is $31.34. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The company has a market cap of $66.57 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 2.22 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.26%.

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.