Lazard Asset Management LLC Acquires 16,091 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Lazard Asset Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 9,635.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,258 shares of the oil and gas producer’s stock after acquiring an additional 16,091 shares during the period. Lazard Asset Management LLC’s holdings in Enterprise Products Partners were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Enterprise Products Partners by 4.7% in the 1st quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after acquiring an additional 1,114,690 shares during the period. Neuberger Berman Group LLC grew its holdings in Enterprise Products Partners by 2.8% in the 1st quarter. Neuberger Berman Group LLC now owns 18,451,802 shares of the oil and gas producer’s stock valued at $476,241,000 after buying an additional 501,154 shares in the last quarter. American Century Companies Inc. grew its holdings in Enterprise Products Partners by 57.5% in the 1st quarter. American Century Companies Inc. now owns 15,180,587 shares of the oil and gas producer’s stock valued at $391,811,000 after buying an additional 5,543,237 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Enterprise Products Partners by 12.5% in the 1st quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer’s stock valued at $306,848,000 after buying an additional 1,323,267 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 3.2% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 11,172,932 shares of the oil and gas producer’s stock valued at $272,284,000 after buying an additional 342,900 shares in the last quarter. Institutional investors own 27.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Raymond James upped their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a report on Thursday, August 4th. Tudor Pickering lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a report on Tuesday, October 18th. TD Securities upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 4th. StockNews.com assumed coverage on Enterprise Products Partners in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Tudor, Pickering, Holt & Co. lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a report on Tuesday, October 18th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $30.44.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $24.98 on Friday. Enterprise Products Partners L.P. has a 12 month low of $20.42 and a 12 month high of $28.65. The company has a current ratio of 0.86, a quick ratio of 0.61 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $54.35 billion, a PE ratio of 10.77 and a beta of 1.14. The stock has a 50-day moving average price of $24.97 and a two-hundred day moving average price of $25.72.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were given a dividend of $0.475 per share. The ex-dividend date was Friday, October 28th. This represents a $1.90 annualized dividend and a dividend yield of 7.61%. Enterprise Products Partners’s payout ratio is 81.90%.

Enterprise Products Partners Profile

(Get Rating)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

See Also

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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