Corient Private Wealth LP Sells 98,056 Shares of Enterprise Products Partners L.P. $EPD

Corient Private Wealth LP lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,643,627 shares of the oil and gas producer's stock after selling 98,056 shares during the period. Corient Private Wealth LP owned approximately 0.12% of Enterprise Products Partners worth $97,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the third quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $37,000. Bravera Wealth boosted its stake in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after buying an additional 900 shares in the last quarter. Markowski Investments bought a new position in Enterprise Products Partners during the second quarter valued at approximately $46,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 1.0%

EPD stock opened at $38.94 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a market capitalization of $84.09 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.50. The business's 50 day moving average price is $38.38 and its two-hundred day moving average price is $37.87. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The company 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 20.67% and a net margin of 10.79%.The firm's revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.55. Enterprise Products Partners's payout ratio is currently 77.78%.

Analyst Ratings Changes

Several research firms recently commented on EPD. Morgan Stanley reaffirmed an "underweight" rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their price target on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. The Goldman Sachs Group restated a "neutral" rating and set a $38.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Weiss Ratings raised Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. Finally, UBS Group restated a "buy" rating and set a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $39.87.

About Enterprise Products Partners

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.

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