Enterprise Products Partners L.P. $EPD Shares Sold by Leisure Capital Management

Leisure Capital Management cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 76.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,915 shares of the oil and gas producer’s stock after selling 22,944 shares during the quarter. Leisure Capital Management’s holdings in Enterprise Products Partners were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EPD. Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners by 1.0% in the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after purchasing an additional 31,733 shares during the last quarter. Royal Palms Capital LLC acquired a new position in shares of Enterprise Products Partners during the 4th quarter valued at $1,830,000. Oxbow Advisors LLC grew its holdings in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after acquiring an additional 39,052 shares during the period. Texas Yale Capital Corp. grew its stake in shares of Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after buying an additional 327,807 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley set a $40.00 price objective on Enterprise Products Partners and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Scotiabank reiterated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Citigroup reiterated a “buy” rating and issued a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.93.

Enterprise Products Partners Stock Up 0.4%

NYSE EPD opened at $38.09 on Friday. Enterprise Products Partners L.P. has a twelve month low of $30.01 and a twelve month high of $40.17. The stock has a market cap of $82.24 billion, a PE ratio of 13.22, a PEG ratio of 1.36 and a beta of 0.49. The firm has a 50-day simple moving average of $37.56 and a 200 day simple moving average of $37.33. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

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

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be given a dividend of $0.56 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

About Enterprise Products Partners

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.