One Charles Private Wealth Services LLC Cuts Holdings in Enterprise Products Partners L.P. $EPD

One Charles Private Wealth Services LLC trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 20.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 56,643 shares of the oil and gas producer’s stock after selling 14,200 shares during the quarter. One Charles Private Wealth Services LLC’s holdings in Enterprise Products Partners were worth $2,082,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EPD. Sigma Planning Corp boosted its position in Enterprise Products Partners by 0.8% in the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer’s stock worth $1,297,000 after purchasing an additional 270 shares during the last quarter. Everest Financial Group LLC lifted its stake in shares of Enterprise Products Partners by 3.6% during the 1st quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock valued at $298,000 after buying an additional 271 shares in the last quarter. Renasant Bank lifted its position in shares of Enterprise Products Partners by 1.3% in the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer’s stock valued at $778,000 after acquiring an additional 271 shares in the last quarter. Walker Asset Management LLC lifted its holdings in Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after purchasing an additional 282 shares in the last quarter. Finally, Hobbs Group Advisors LLC boosted its position in shares of Enterprise Products Partners by 1.4% during the first quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after acquiring an additional 298 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.1%

NYSE:EPD opened at $38.89 on Wednesday. The stock has a market capitalization of $83.98 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.42 and a beta of 0.50. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company’s 50-day simple moving average is $38.23 and its 200-day simple moving average is $37.82.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 60.8% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 annualized dividend and a yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 77.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EPD shares. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Scotiabank reissued a “sector perform” rating and set a $40.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Finally, TD Cowen reiterated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.