Infrastructure Capital Advisors LLC Sells 56,403 Shares of Enterprise Products Partners L.P. $EPD

Infrastructure Capital Advisors LLC trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the second quarter, Holdings Channel.com reports. The fund owned 1,491,905 shares of the oil and gas producer’s stock after selling 56,403 shares during the quarter. Enterprise Products Partners accounts for about 3.2% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 7th biggest position. Infrastructure Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $54,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 0.6% during the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after purchasing an additional 260,305 shares in the last quarter. Auto Owners Insurance Co raised its position in shares of Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares in the last quarter. Morgan Stanley boosted its stake in shares of Enterprise Products Partners by 4.8% in the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after buying an additional 883,983 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Enterprise Products Partners by 12.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after buying an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC grew its position in Enterprise Products Partners by 0.6% during the third quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after buying an additional 80,884 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of a number of analyst reports. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Scotiabank reissued a “sector perform” rating and issued a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Price Performance

EPD stock opened at $38.12 on Monday. The stock has a market cap of $82.32 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.25 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company has a 50 day simple moving average of $37.67 and a 200 day simple moving average of $37.54. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Research analysts anticipate that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.56 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.9%. Enterprise Products Partners’s dividend 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.