Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Austin Wealth Management LLC

Austin Wealth Management LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 67.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,402 shares of the oil and gas producer's stock after selling 15,266 shares during the quarter. Austin Wealth Management LLC's holdings in Enterprise Products Partners were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in EPD. Tidemark LLC boosted its holdings in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the 4th quarter valued at $30,000. Security National Bank purchased a new position in Enterprise Products Partners during the 1st quarter valued at $30,000. Finally, Alpine Bank Wealth Management purchased a new position in Enterprise Products Partners during the 1st quarter valued at $31,000. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen initiated coverage on Enterprise Products Partners in a report on Monday. They set a "hold" rating and a $33.00 price objective for the company. Scotiabank lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Barclays decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Finally, Argus raised Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.36.

Enterprise Products Partners Stock Down 0.4%

Shares of EPD traded down $0.14 during trading hours on Friday, hitting $31.91. The company had a trading volume of 2,518,045 shares, compared to its average volume of 4,482,922. The company has a market capitalization of $69.21 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company's fifty day moving average price is $31.36 and its two-hundred day moving average price is $32.09.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be given a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.83%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is currently 80.15%.

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.