Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Independent Portfolio Consultants Inc.

Independent Portfolio Consultants Inc. raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,325 shares of the oil and gas producer’s stock after buying an additional 325 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Enterprise Products Partners L.P. were worth $198,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EPD. Evanson Asset Management LLC boosted its stake in shares of Enterprise Products Partners L.P. by 1.0% in the first quarter. Evanson Asset Management LLC now owns 110,131 shares of the oil and gas producer’s stock worth $3,041,000 after buying an additional 1,110 shares during the last quarter. North American Management Corp boosted its stake in shares of Enterprise Products Partners L.P. by 6.1% in the first quarter. North American Management Corp now owns 175,930 shares of the oil and gas producer’s stock worth $4,857,000 after buying an additional 10,121 shares during the last quarter. Telemus Capital LLC boosted its stake in shares of Enterprise Products Partners L.P. by 0.9% in the first quarter. Telemus Capital LLC now owns 73,021 shares of the oil and gas producer’s stock worth $2,016,000 after buying an additional 679 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Enterprise Products Partners L.P. during the first quarter worth $502,000. Finally, Warren Averett Asset Management LLC purchased a new stake in shares of Enterprise Products Partners L.P. during the first quarter worth $225,000. Institutional investors own 38.83% of the company’s stock.

Shares of Enterprise Products Partners L.P. (NYSE:EPD) opened at 25.23 on Friday. The stock has a 50 day moving average price of $26.83 and a 200 day moving average price of $27.29. The stock has a market capitalization of $54.19 billion, a P/E ratio of 19.85 and a beta of 0.89. Enterprise Products Partners L.P. has a 12-month low of $24.01 and a 12-month high of $30.25.

Enterprise Products Partners L.P. (NYSE:EPD) last announced its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a return on equity of 12.04% and a net margin of 10.28%. The firm had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the firm earned $0.27 EPS. Enterprise Products Partners L.P.’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post $1.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 31st were issued a dividend of $0.42 per share. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.68 annualized dividend and a yield of 6.66%. Enterprise Products Partners L.P.’s payout ratio is presently 132.28%.

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Several research analysts recently commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $30.00 target price on shares of Enterprise Products Partners L.P. in a research note on Friday, August 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Enterprise Products Partners L.P. in a research note on Thursday, August 10th. BidaskClub cut Enterprise Products Partners L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Barclays PLC reissued an “overweight” rating and set a $31.00 target price (down from $33.00) on shares of Enterprise Products Partners L.P. in a research note on Friday, August 4th. Finally, Scotiabank set a $33.00 target price on Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $31.62.

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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