CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Decreases Position in Enterprise Products Partners L.P. (NYSE:EPD)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,925,848 shares of the oil and gas producer's stock after selling 235,477 shares during the period. Enterprise Products Partners makes up 4.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 13th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.09% of Enterprise Products Partners worth $65,748,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of Enterprise Products Partners by 1.3% in the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer's stock worth $849,126,000 after buying an additional 359,288 shares during the period. FMR LLC boosted its holdings in Enterprise Products Partners by 2.1% during the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer's stock valued at $462,067,000 after acquiring an additional 304,997 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer's stock valued at $426,125,000 after acquiring an additional 1,947,017 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after acquiring an additional 851,188 shares during the period. Finally, Westwood Holdings Group Inc. boosted its holdings in Enterprise Products Partners by 11.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock valued at $182,832,000 after acquiring an additional 580,850 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.1%

Shares of NYSE EPD opened at $31.06 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $67.37 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.29 and a beta of 0.65. The stock's fifty day simple moving average is $31.21 and its two-hundred day simple moving average is $32.08. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63.

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

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th were given a $0.535 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.89%. Enterprise Products Partners's payout ratio is 80.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EPD shares. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an "equal weight" rating in a report on Tuesday, March 11th. Scotiabank boosted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and an average price target of $36.67.

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.

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