Hamlin Capital Management LLC Reduces Stock Position in Enterprise Products Partners L.P. $EPD

Hamlin Capital Management LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,757,411 shares of the oil and gas producer’s stock after selling 34,946 shares during the quarter. Enterprise Products Partners accounts for 4.1% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Hamlin Capital Management LLC’s holdings in Enterprise Products Partners were worth $169,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at about $37,000. Bravera Wealth grew its holdings in shares of Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 900 shares in the last quarter. Markowski Investments purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $46,000. BOK Financial Private Wealth Inc. bought a new stake in Enterprise Products Partners during the second quarter worth $48,000. Finally, West Paces Advisors Inc. bought a new stake in Enterprise Products Partners during the second quarter worth $55,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EPD shares. TD Cowen restated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Morgan Stanley reissued an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 3rd. Melius Research started coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They set a “hold” rating and a $42.00 price objective for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.12.

Enterprise Products Partners Stock Performance

Shares of EPD stock remained flat at $36.91 on Thursday. The stock had a trading volume of 1,277,645 shares, compared to its average volume of 3,853,129. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $79.71 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.37 and a beta of 0.50. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm has a 50 day moving average price of $38.12 and a 200 day moving average price of $37.94.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 3.02 earnings per share for the current year.

About Enterprise Products Partners

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.