Custom Index Systems LLC Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Custom Index Systems LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,838 shares of the oil and gas producer’s stock after selling 3,814 shares during the quarter. Custom Index Systems LLC’s holdings in Enterprise Products Partners were worth $1,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. lifted its position in Enterprise Products Partners by 1,368.4% during the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares in the last quarter. Berkley W R Corp grew its stake in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after buying an additional 1,000,000 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in shares of Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Finally, Payden & Rygel Investment Group acquired a new stake in shares of Enterprise Products Partners in the first quarter worth $21,371,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EPD. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Down 0.6 %

Shares of NYSE:EPD opened at $28.87 on Friday. The firm has a market cap of $62.69 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a fifty day simple moving average of $29.18 and a 200 day simple moving average of $28.77. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the firm posted $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a yield of 7.27%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

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.