TCW Group Inc. Reduces Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

TCW Group Inc. reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 43.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,772 shares of the oil and gas producer's stock after selling 16,621 shares during the quarter. TCW Group Inc.'s holdings in Enterprise Products Partners were worth $634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EPD. TD Private Client Wealth LLC increased its holdings in shares of Enterprise Products Partners by 3.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 100,614 shares of the oil and gas producer's stock worth $2,929,000 after buying an additional 3,546 shares during the last quarter. Fortem Financial Group LLC increased its stake in Enterprise Products Partners by 25.1% during the third quarter. Fortem Financial Group LLC now owns 26,988 shares of the oil and gas producer's stock worth $786,000 after acquiring an additional 5,419 shares during the last quarter. Asset Allocation Strategies LLC raised its position in Enterprise Products Partners by 19.5% in the third quarter. Asset Allocation Strategies LLC now owns 18,161 shares of the oil and gas producer's stock valued at $529,000 after purchasing an additional 2,963 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Enterprise Products Partners by 19.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 244,367 shares of the oil and gas producer's stock valued at $7,114,000 after purchasing an additional 39,166 shares during the last quarter. Finally, Cresta Advisors Ltd. increased its position in shares of Enterprise Products Partners by 1.7% during the 3rd quarter. Cresta Advisors Ltd. now owns 30,077 shares of the oil and gas producer's stock worth $876,000 after purchasing an additional 507 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EPD. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 target price for the company. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $34.00.

Enterprise Products Partners Stock Down 0.6 %

Shares of NYSE EPD traded down $0.19 during mid-day trading on Friday, hitting $32.20. The company had a trading volume of 2,549,949 shares, compared to its average volume of 4,305,525. The company has a market capitalization of $69.80 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The business's 50-day simple moving average is $30.74 and its 200 day simple moving average is $29.62. Enterprise Products Partners L.P. has a 1-year low of $26.02 and a 1-year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the business earned $0.60 EPS. Enterprise Products Partners's revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.52%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 78.65%.

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.