Enterprise Products Partners L.P. $EPD is Oxbow Advisors LLC's 3rd Largest Position

Key Points

• Oxbow Advisors LLC reduced its stake in Enterprise Products Partners L.P. by 1.2%, now holding approximately 4.5% of its portfolio in this stock as its 3rd largest holding.
• The latest quarterly earnings report indicated that Enterprise Products missed EPS estimates, reporting $0.66 compared to an expected $0.67, with revenue down 15.7% year-over-year.
• A quarterly dividend of $0.545 per share was announced, which translates to an annual yield of 7.2%, with the ex-dividend date set for October 31st.

Oxbow Advisors LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,342,274 shares of the oil and gas producer's stock after selling 16,000 shares during the period. Enterprise Products Partners accounts for about 4.5% of Oxbow Advisors LLC's holdings, making the stock its 3rd largest holding. Oxbow Advisors LLC owned 0.06% of Enterprise Products Partners worth $41,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EPD. Alps Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Enterprise Products Partners by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock worth $375,662,000 after buying an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 1.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer's stock worth $171,022,000 after acquiring an additional 81,135 shares during the period. BROOKFIELD Corp ON increased its position in Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer's stock valued at $160,416,000 after acquiring an additional 128,545 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after acquiring an additional 1,717,768 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.8%

EPD opened at $30.27 on Friday. The stock has a market cap of $65.54 billion, a price-to-earnings ratio of 11.25, a price-to-earnings-growth ratio of 2.17 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The firm's fifty day moving average is $31.54 and its 200 day moving average is $31.31. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the prior year, the business earned $0.64 earnings per share. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Analyst Ratings Changes

A number of research firms have issued reports on EPD. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 26th. Weiss Ratings restated a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Scotiabank reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, September 19th. Finally, Stifel Nicolaus lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.82.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company's stock, valued at $4,319,826. The trade was a 13.23% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company's stock.

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.

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