King Luther Capital Management Corp Has $7.28 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

King Luther Capital Management Corp lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 276,263 shares of the oil and gas producer’s stock after selling 910 shares during the quarter. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $7,280,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Enterprise Products Partners by 104,195.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 132,364,055 shares of the oil and gas producer’s stock valued at $3,192,621,000 after purchasing an additional 132,237,142 shares during the last quarter. BlackRock Inc. increased 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 buying an additional 1,114,690 shares during the last quarter. Morgan Stanley lifted its position in Enterprise Products Partners by 17.6% during the 4th quarter. Morgan Stanley now owns 20,745,030 shares of the oil and gas producer’s stock worth $500,370,000 after buying an additional 3,102,695 shares in the last quarter. Fayez Sarofim & Co boosted its stake in shares of Enterprise Products Partners by 3.8% during the 1st quarter. Fayez Sarofim & Co now owns 16,569,305 shares of the oil and gas producer’s stock worth $429,145,000 after buying an additional 603,827 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Enterprise Products Partners by 7.4% in the 1st quarter. FMR LLC now owns 14,598,473 shares of the oil and gas producer’s stock valued at $378,100,000 after acquiring an additional 1,004,991 shares in the last quarter. Institutional investors own 26.54% of the company’s stock.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were bought at an average price of $25.96 per share, for a total transaction of $259,600.00. Following the completion of the acquisition, the director now owns 137,423 shares in the company, valued at $3,567,501.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EPD shares. Truist Financial dropped their target price on Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. TD Securities cut their price objective on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. StockNews.com assumed coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They set a “buy” rating on the stock. UBS Group decreased their target price on Enterprise Products Partners from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Finally, Raymond James lowered their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.08.

Enterprise Products Partners Trading Down 0.0 %

Shares of EPD opened at $26.26 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.65 and a current ratio of 0.92. Enterprise Products Partners L.P. has a 52-week low of $23.14 and a 52-week high of $27.95. The firm has a market cap of $57.03 billion, a price-to-earnings ratio of 10.72 and a beta of 1.07. The business’s fifty day moving average is $26.93 and its 200-day moving average is $26.53.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.04). Enterprise Products Partners had a net margin of 11.04% and a return on equity of 19.32%. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $11.08 billion. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s quarterly revenue was down 22.4% on a year-over-year basis. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.51 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.62%. The ex-dividend date of this dividend was Monday, October 30th. Enterprise Products Partners’s payout ratio is 81.63%.

About Enterprise Products Partners

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.