SYSTM Wealth Solutions LLC Cuts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

SYSTM Wealth Solutions LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.4% in the second quarter, Holdings Channel reports. The firm owned 61,199 shares of the oil and gas producer’s stock after selling 38,170 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Enterprise Products Partners were worth $1,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EPD. Blackstone Inc. increased its stake in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after acquiring an additional 1,368,440 shares in the last quarter. Berkley W R Corp grew its stake in Enterprise Products Partners by 24.5% during the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after acquiring an additional 1,000,000 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Finally, Payden & Rygel Investment Group purchased a new stake in Enterprise Products Partners during the 1st quarter valued at about $21,371,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.51 on Wednesday. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $64.08 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.03. The stock’s fifty day moving average is $29.21 and its two-hundred day moving average is $28.87.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.12%. The ex-dividend date was Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

Analysts Set New Price Targets

EPD has been the subject of several research reports. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.08.

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.