United Services Automobile Association Sells 41,101 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

United Services Automobile Association cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 861,644 shares of the oil and gas producer’s stock after selling 41,101 shares during the period. United Services Automobile Association’s holdings in Enterprise Products Partners L.P. were worth $23,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC increased its position in shares of Enterprise Products Partners L.P. by 40.5% in the first quarter. Chickasaw Capital Management LLC now owns 14,566,207 shares of the oil and gas producer’s stock valued at $402,173,000 after buying an additional 4,202,364 shares during the period. Ameriprise Financial Inc. increased its position in shares of Enterprise Products Partners L.P. by 38.0% in the first quarter. Ameriprise Financial Inc. now owns 7,334,276 shares of the oil and gas producer’s stock valued at $202,351,000 after buying an additional 2,018,930 shares during the period. American Century Companies Inc. increased its position in shares of Enterprise Products Partners L.P. by 18.2% in the first quarter. American Century Companies Inc. now owns 6,964,325 shares of the oil and gas producer’s stock valued at $192,285,000 after buying an additional 1,072,931 shares during the period. Kayne Anderson Capital Advisors LP increased its position in shares of Enterprise Products Partners L.P. by 3.3% in the first quarter. Kayne Anderson Capital Advisors LP now owns 32,686,057 shares of the oil and gas producer’s stock valued at $902,446,000 after buying an additional 1,044,310 shares during the period. Finally, Infrastructure Capital Advisors LLC increased its position in shares of Enterprise Products Partners L.P. by 585.9% in the first quarter. Infrastructure Capital Advisors LLC now owns 715,983 shares of the oil and gas producer’s stock valued at $19,768,000 after buying an additional 611,603 shares during the period. Hedge funds and other institutional investors own 38.54% of the company’s stock.

Shares of Enterprise Products Partners L.P. (EPD) traded down 0.33% on Friday, reaching $27.10. The company had a trading volume of 3,327,460 shares. The firm has a market capitalization of $57.90 billion, a price-to-earnings ratio of 21.94 and a beta of 0.89. The company’s 50-day moving average price is $27.00 and its 200-day moving average price is $27.50. Enterprise Products Partners L.P. has a 52-week low of $24.01 and a 52-week high of $30.25. Enterprise Products Partners L.P. also was the recipient of some unusual options trading on Tuesday. Stock traders acquired 21,588 call options on the company. This represents an increase of 900% compared to the average daily volume of 2,159 call options.

Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings results on Tuesday, May 2nd. The oil and gas producer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $6.05 billion. Enterprise Products Partners L.P. had a return on equity of 11.73% and a net margin of 10.31%. The company’s revenue was up 46.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post $1.41 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.20%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, July 27th. Enterprise Products Partners L.P.’s dividend payout ratio is presently 133.87%.

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EPD has been the topic of several analyst reports. Morgan Stanley upgraded Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $26.37 to $26.50 in a report on Thursday, June 15th. Sanford C. Bernstein initiated coverage on Enterprise Products Partners L.P. in a report on Tuesday, May 16th. They set an “outperform” rating on the stock. Guggenheim assumed coverage on Enterprise Products Partners L.P. in a report on Monday, April 17th. They set a “buy” rating and a $32.00 price target on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $33.00 price objective on shares of Enterprise Products Partners L.P. in a research report on Tuesday, April 4th. Finally, BMO Capital Markets set a $33.00 price objective on Enterprise Products Partners L.P. and gave the company a “buy” rating in a research report on Monday, June 5th. One research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.05.

Enterprise Products Partners L.P. Company Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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