Kayne Anderson Capital Advisors LP Has $711.45 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Kayne Anderson Capital Advisors LP cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,893,582 shares of the oil and gas producer’s stock after selling 1,151,800 shares during the quarter. Enterprise Products Partners makes up approximately 11.4% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its largest holding. Kayne Anderson Capital Advisors LP owned about 1.14% of Enterprise Products Partners worth $711,448,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Enterprise Products Partners by 1.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 41,620,404 shares of the oil and gas producer’s stock valued at $1,201,581,000 after acquiring an additional 431,656 shares in the last quarter. Energy Income Partners LLC increased its holdings in shares of 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 valued at $636,601,000 after acquiring an additional 1,366,532 shares in the last quarter. Morgan Stanley increased its holdings in shares of 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 valued at $618,927,000 after acquiring an additional 1,835,431 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Enterprise Products Partners by 7.3% during the third quarter. CIBC Private Wealth Group LLC now owns 18,911,235 shares of the oil and gas producer’s stock valued at $540,482,000 after acquiring an additional 1,291,052 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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 valued at $490,179,000 after acquiring an additional 16,537,844 shares in the last quarter. Institutional investors and hedge funds own 36.77% of the company’s stock.

NYSE EPD traded down $0.10 during trading hours on Friday, reaching $26.33. The stock had a trading volume of 4,193,098 shares, compared to its average volume of 4,042,235. The stock has a fifty day moving average of $27.64 and a 200 day moving average of $28.61. The stock has a market cap of $58.34 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 3.05 and a beta of 0.87. Enterprise Products Partners L.P. has a 52-week low of $23.33 and a 52-week 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.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, October 28th. The oil and gas producer reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The firm had revenue of $7.96 billion during the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Enterprise Products Partners’s quarterly revenue was down 16.9% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be given a $0.4425 dividend. This represents a $1.77 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Wednesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is currently 91.24%.

EPD has been the topic of several recent analyst reports. 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 report on Monday, August 26th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. Piper Jaffray Companies assumed coverage on Enterprise Products Partners in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $37.00 target price on the stock. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Scotia Howard Weill assumed coverage on Enterprise Products Partners in a research report on Wednesday, September 4th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.50.

About Enterprise Products Partners

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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