King Luther Capital Management Corp Sells 1,783 Shares of Enterprise Products Partners L.P. $EPD

King Luther Capital Management Corp lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,964 shares of the oil and gas producer’s stock after selling 1,783 shares during the quarter. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Next Capital Management LLC increased its holdings in Enterprise Products Partners by 2.3% in the 2nd quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock valued at $454,000 after buying an additional 332 shares during the period. Per Stirling Capital Management LLC. boosted its position in shares of Enterprise Products Partners by 1.5% during 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 acquiring an additional 339 shares in the last quarter. Tranquility Partners LLC increased its stake in Enterprise Products Partners by 1.4% in the second quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after acquiring an additional 339 shares during the period. Sound Income Strategies LLC raised its position in Enterprise Products Partners by 2.1% in the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after purchasing an additional 340 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Enterprise Products Partners by 1.8% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after purchasing an additional 347 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $31.28 on Monday. The business has a fifty day moving average of $31.30 and a 200-day moving average of $31.34. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a market cap of $67.72 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. 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 company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter last year, the company earned $0.65 EPS. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners declared that its board has authorized a stock repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

The business 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 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EPD shares. Morgan Stanley lowered their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Stifel Nicolaus upped their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Scotiabank reduced their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. One equities research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

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.