Cypress Asset Management Inc. TX Sells 600 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cypress Asset Management Inc. TX trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,878 shares of the oil and gas producer’s stock after selling 600 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Enterprise Products Partners were worth $2,454,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in EPD. Invesco Ltd. increased its position in Enterprise Products Partners by 3,750.3% during the second quarter. Invesco Ltd. now owns 16,978,814 shares of the oil and gas producer’s stock worth $490,179,000 after acquiring an additional 16,537,844 shares during the period. Commonwealth Bank of Australia grew its stake in Enterprise Products Partners by 4,745.7% during the second quarter. Commonwealth Bank of Australia now owns 2,845,253 shares of the oil and gas producer’s stock worth $82,134,000 after buying an additional 2,786,536 shares in the last quarter. Chickasaw Capital Management LLC grew its stake in Enterprise Products Partners by 16.4% during the third quarter. Chickasaw Capital Management LLC now owns 13,375,378 shares of the oil and gas producer’s stock worth $382,268,000 after buying an additional 1,880,501 shares in the last quarter. Morgan Stanley grew its stake in Enterprise Products Partners by 9.4% during the second quarter. Morgan Stanley now owns 21,438,384 shares of the oil and gas producer’s stock worth $618,927,000 after buying an additional 1,835,431 shares in the last quarter. Finally, Energy Income Partners LLC grew its stake in Enterprise Products Partners by 6.6% during the second quarter. Energy Income Partners LLC now owns 22,050,598 shares of the oil and gas producer’s stock worth $636,601,000 after buying an additional 1,366,532 shares in the last quarter. 36.67% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on EPD shares. Scotia Howard Weill started coverage on shares of Enterprise Products Partners in a research note on Wednesday, September 4th. They set an “outperform” rating on the stock. Piper Jaffray Companies started coverage on shares of Enterprise Products Partners in a research note on Wednesday, July 17th. They set an “overweight” rating and a $37.00 price objective on the stock. Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Monday, August 26th. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada started coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.45.

In related news, Director Murray E. Brasseux purchased 5,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $30.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 17,885 shares in the company, valued at approximately $536,550. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 37.50% of the company’s stock.

Shares of EPD traded down $0.12 during mid-day trading on Monday, reaching $27.49. The company had a trading volume of 393,926 shares, compared to its average volume of 4,368,743. The company’s 50 day simple moving average is $28.34 and its 200 day simple moving average is $28.87. Enterprise Products Partners L.P. has a 1-year low of $23.33 and a 1-year high of $30.86. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. The company has a market capitalization of $60.42 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 3.11 and a beta of 0.87.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The company had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.57 billion. During the same period last year, the company posted $0.31 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Thursday, October 31st will be paid a $0.4425 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date is Wednesday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 90.72%.

Enterprise Products Partners Company 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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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