CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Decreases Stock Holdings in Enterprise Products Partners L.P. $EPD

Key Points

• Cushing Asset Management reduced its stake in Enterprise Products Partners by 2.6% in the first quarter, selling 47,000 shares and leaving it with 1.75 million shares worth about $66.05 million.
• Enterprise Products Partners recently reported quarterly EPS of $0.68, missing analyst expectations, though revenue came in above estimates at $14.39 billion.
• The company paid a quarterly dividend of $0.55 per share, implying an annualized yield of about 6.0%; analysts currently have a consensus rating of Hold with a price target of $39.94.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,745,500 shares of the oil and gas producer's stock after selling 47,000 shares during the period. Enterprise Products Partners comprises 3.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 13th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.08% of Enterprise Products Partners worth $66,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EPD. Miller Howard Investments Inc. NY increased its holdings in shares of 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 in the last quarter. Royal Palms Capital LLC purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $1,830,000. Oxbow Advisors LLC raised its holdings in shares of 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 valued at $42,610,000 after purchasing an additional 39,052 shares during the last quarter. Texas Yale Capital Corp. lifted its position in Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer's stock valued at $61,104,000 after purchasing an additional 88,475 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Enterprise Products Partners by 70.6% during the third quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock valued at $46,765,000 after purchasing an additional 619,014 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $36.77 on Monday. The company has a market capitalization of $79.49 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.30 and a beta of 0.49. The business's 50-day moving average is $37.75 and its 200 day moving average is $36.14. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business's revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 3.01 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners's payout ratio is 81.48%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EPD. Citigroup reiterated a "buy" rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Morgan Stanley reaffirmed an "underweight" rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. The Goldman Sachs Group reissued a "neutral" rating and set a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. UBS Group restated a "buy" rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, TD Cowen reiterated a "hold" rating and set a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $39.94.

Enterprise Products Partners Profile

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.

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