CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Reduces Stock Holdings in Enterprise Products Partners L.P. $EPD

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,745,500 shares of the oil and gas producer’s stock after selling 47,000 shares during the quarter. Enterprise Products Partners makes up approximately 3.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 13th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Enterprise Products Partners were worth $66,050,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kathmere Capital Management LLC bought a new position in Enterprise Products Partners during the first quarter valued at $493,000. Whittier Trust Co. boosted its stake in shares of Enterprise Products Partners by 3.3% during the 1st quarter. Whittier Trust Co. now owns 13,060 shares of the oil and gas producer’s stock worth $494,000 after purchasing an additional 412 shares during the period. Ascentis Independent Advisors boosted its stake in shares of Enterprise Products Partners by 59.3% during the 1st quarter. Ascentis Independent Advisors now owns 66,519 shares of the oil and gas producer’s stock worth $2,517,000 after purchasing an additional 24,759 shares during the period. Stephens Inc. AR grew its holdings in Enterprise Products Partners by 4.5% during the 1st quarter. Stephens Inc. AR now owns 632,544 shares of the oil and gas producer’s stock valued at $23,939,000 after purchasing an additional 27,271 shares during the last quarter. Finally, Hardy Reed LLC grew its holdings in Enterprise Products Partners by 9.5% during the 1st quarter. Hardy Reed LLC now owns 26,456 shares of the oil and gas producer’s stock valued at $1,001,000 after purchasing an additional 2,300 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on EPD shares. TD Cowen reissued a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Morgan Stanley reaffirmed an “underweight” rating and set a $43.00 target price (up from $42.00) on shares of Enterprise Products Partners in a research note on Wednesday, May 20th. Jefferies Financial Group increased their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a report on Tuesday, March 31st. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus target price of $39.94.

Enterprise Products Partners Trading Up 0.1%

EPD stock opened at $36.77 on Monday. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The firm’s 50-day moving average is $37.75 and its 200 day moving average is $36.14. The company has a market capitalization of $79.49 billion, a PE ratio of 13.62, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. Enterprise Products Partners’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 3.01 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, April 30th were issued a $0.55 dividend. The ex-dividend date was Thursday, April 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s payout ratio is presently 81.48%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.