Stablepoint Partners LLC Lowers Position in Enterprise Products Partners L.P. (NYSE:EPD)

Stablepoint Partners LLC trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,418 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Stablepoint Partners LLC’s holdings in Enterprise Products Partners were worth $903,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $25,000. Burkett Financial Services LLC purchased a new stake in Enterprise Products Partners in the fourth quarter worth about $28,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $29,000. Finally, Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price objective 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. 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 note on Wednesday, July 31st. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $29.04 on Friday. The company has a market cap of $63.05 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a 50 day simple moving average of $29.18 and a two-hundred day simple moving average of $28.75. 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 posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.23%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Enterprise Products Partners Company 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.