Enterprise Products Partners L.P. $EPD Shares Sold by One Charles Private Wealth Services LLC

One Charles Private Wealth Services LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 20.0% in the 2nd quarter, Holdings Channel reports. The fund owned 56,643 shares of the oil and gas producer’s stock after selling 14,200 shares during the period. One Charles Private Wealth Services LLC’s holdings in Enterprise Products Partners were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Auto Owners Insurance Co boosted its stake in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after acquiring an additional 31,060,000 shares in the last quarter. Energy Income Partners LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $508,461,000. Bank of America Corp DE purchased a new position in Enterprise Products Partners in the 2nd quarter worth approximately $416,553,000. BlackRock Inc. purchased a new position in Enterprise Products Partners during the second quarter worth approximately $255,325,000. Finally, Berkley W R Corp acquired a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $250,887,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley reiterated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. UBS Group reiterated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $38.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Read Our Latest Analysis on EPD

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE EPD opened at $38.89 on Wednesday. The business has a 50-day moving average price of $38.23 and a 200 day moving average price of $37.82. The stock has a market cap of $83.98 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly 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. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

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

About Enterprise Products Partners

(Free Report)

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.

Further Reading

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

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