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

Duff & Phelps Investment Management Co. cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,109,842 shares of the oil and gas producer’s stock after selling 127,000 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.10% of Enterprise Products Partners worth $61,418,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. QRG Capital Management Inc. raised its stake in Enterprise Products Partners by 6.0% during the 2nd quarter. QRG Capital Management Inc. now owns 9,548 shares of the oil and gas producer’s stock valued at $277,000 after acquiring an additional 541 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Enterprise Products Partners by 14.0% during the second quarter. Diversify Advisory Services LLC now owns 13,602 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 1,673 shares during the period. Dynamic Advisor Solutions LLC grew its position in Enterprise Products Partners by 17.6% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 108,829 shares of the oil and gas producer’s stock valued at $3,154,000 after buying an additional 16,326 shares during the last quarter. Alpha Cubed Investments LLC increased its stake in Enterprise Products Partners by 7.1% in the 2nd quarter. Alpha Cubed Investments LLC now owns 16,055 shares of the oil and gas producer’s stock valued at $465,000 after buying an additional 1,061 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in Enterprise Products Partners by 20.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,215 shares of the oil and gas producer’s stock worth $702,000 after buying an additional 4,084 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One equities research 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 MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Trading Down 0.2 %

Shares of EPD opened at $32.80 on Monday. 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 L.P. has a 1-year low of $25.96 and a 1-year high of $34.63. The stock has a market cap of $71.10 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. The firm has a 50 day simple moving average of $30.50 and a 200-day simple moving average of $29.52.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.40%. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.