Teamwork Financial Advisors LLC Has $3.47 Million Stock Position in Enterprise Products Partners L.P. $EPD

Teamwork Financial Advisors LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 14.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 94,389 shares of the oil and gas producer’s stock after selling 16,071 shares during the period. Teamwork Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $3,470,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Auto Owners Insurance Co increased its holdings in 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 purchasing an additional 31,060,000 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after buying an additional 1,940,583 shares during the period. Corient Private Wealth LLC lifted its holdings in Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after buying an additional 1,313,976 shares during the period. Barclays PLC grew its position in shares of Enterprise Products Partners by 57.5% in the 4th quarter. Barclays PLC now owns 2,928,068 shares of the oil and gas producer’s stock valued at $93,874,000 after buying an additional 1,069,304 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its position in shares of Enterprise Products Partners by 5,743.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,019,056 shares of the oil and gas producer’s stock valued at $32,671,000 after buying an additional 1,001,616 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, July 2nd. Wall Street Zen raised shares of Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Saturday. TD Cowen restated a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.93.

Get Our Latest Stock Analysis on EPD

Enterprise Products Partners Stock Performance

EPD stock opened at $37.79 on Friday. The stock has a 50-day moving average price of $37.54 and a 200-day moving average price of $37.16. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The firm has a market cap of $81.70 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.80% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.96 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s payout ratio is presently 77.78%.

Enterprise Products Partners Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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