Duff & Phelps Investment Management Co. Reduces Position in Enterprise Products Partners L.P. (NYSE:EPD)

Duff & Phelps Investment Management Co. lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,236,842 shares of the oil and gas producer's stock after selling 376,000 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.10% of Enterprise Products Partners worth $64,824,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cadence Bank lifted its stake in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer's stock worth $1,530,000 after buying an additional 365 shares in the last quarter. McAdam LLC boosted its holdings in Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer's stock worth $831,000 after purchasing an additional 372 shares during the last quarter. Advisor OS LLC boosted its holdings in Enterprise Products Partners by 1.3% in the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer's stock worth $854,000 after purchasing an additional 379 shares during the last quarter. Ellsworth Advisors LLC boosted its holdings in Enterprise Products Partners by 1.8% in the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer's stock worth $636,000 after purchasing an additional 383 shares during the last quarter. Finally, Stokes Family Office LLC boosted its holdings in Enterprise Products Partners by 2.5% in the second quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer's stock worth $468,000 after purchasing an additional 399 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Morgan Stanley decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

NYSE EPD traded up $0.30 on Friday, reaching $29.18. The company had a trading volume of 2,598,425 shares, compared to its average volume of 4,402,409. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $63.37 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The firm's 50 day moving average price is $29.17 and its 200 day moving average price is $28.93. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business's revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 82.35%.

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.