Kayne Anderson Capital Advisors LP Cuts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Kayne Anderson Capital Advisors LP lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,564,583 shares of the oil and gas producer's stock after selling 23,581 shares during the quarter. Enterprise Products Partners comprises 10.2% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 2nd biggest holding. Kayne Anderson Capital Advisors LP owned 0.63% of Enterprise Products Partners worth $463,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Edgemoor Investment Advisors Inc. raised its stake in shares of Enterprise Products Partners by 0.4% in the first quarter. Edgemoor Investment Advisors Inc. now owns 310,683 shares of the oil and gas producer's stock worth $10,607,000 after buying an additional 1,257 shares during the period. Chancellor Financial Group WB LP purchased a new position in Enterprise Products Partners in the 1st quarter worth approximately $216,000. J.W. Cole Advisors Inc. lifted its holdings in Enterprise Products Partners by 186.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 139,181 shares of the oil and gas producer's stock worth $4,752,000 after purchasing an additional 90,560 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in Enterprise Products Partners by 100.1% in the 1st quarter. OneAscent Financial Services LLC now owns 21,192 shares of the oil and gas producer's stock worth $724,000 after purchasing an additional 10,603 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its holdings in Enterprise Products Partners by 5.6% in the 1st quarter. Copperwynd Financial LLC now owns 11,867 shares of the oil and gas producer's stock worth $405,000 after purchasing an additional 628 shares in the last quarter. Institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on EPD shares. TD Cowen started coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price target on the stock. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. lifted 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. 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $36.36.

Enterprise Products Partners Trading Up 0.9%

Shares of NYSE EPD traded up $0.29 during trading hours on Thursday, hitting $31.79. 1,984,306 shares of the company traded hands, compared to its average volume of 4,711,696. The stock has a market capitalization of $68.94 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.81 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. The company's 50 day moving average price is $31.48 and its 200 day moving average price is $32.09. 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 released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share 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 business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.86%. The ex-dividend date is Thursday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 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.