Tortoise Capital Advisors L.L.C. increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,667,941 shares of the oil and gas producer’s stock after buying an additional 1,573,553 shares during the period. Enterprise Products Partners L.P. comprises approximately 7.3% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its largest position. Tortoise Capital Advisors L.L.C. owned about 1.95% of Enterprise Products Partners L.P. worth $1,128,368,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Chickasaw Capital Management LLC increased its stake in shares of Enterprise Products Partners L.P. by 40.5% in the first quarter. Chickasaw Capital Management LLC now owns 14,566,207 shares of the oil and gas producer’s stock worth $402,173,000 after buying an additional 4,202,364 shares in the last quarter. BlackRock Inc. increased its stake in shares of Enterprise Products Partners L.P. by 5,083.2% in the first quarter. BlackRock Inc. now owns 3,225,992 shares of the oil and gas producer’s stock worth $89,069,000 after buying an additional 3,163,753 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Enterprise Products Partners L.P. by 38.0% in the first quarter. Ameriprise Financial Inc. now owns 7,334,276 shares of the oil and gas producer’s stock worth $202,351,000 after buying an additional 2,018,930 shares in the last quarter. Beach Investment Management LLC. increased its stake in shares of Enterprise Products Partners L.P. by 1,922.5% in the second quarter. Beach Investment Management LLC. now owns 1,920,324 shares of the oil and gas producer’s stock worth $52,002,000 after buying an additional 1,825,374 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in shares of Enterprise Products Partners L.P. by 24.2% in the first quarter. Epoch Investment Partners Inc. now owns 7,138,017 shares of the oil and gas producer’s stock worth $197,080,000 after buying an additional 1,389,424 shares in the last quarter. Institutional investors own 37.85% of the company’s stock.

Enterprise Products Partners L.P. (NYSE EPD) opened at 25.86 on Monday. Enterprise Products Partners L.P. has a 1-year low of $24.01 and a 1-year high of $30.25. The stock has a market capitalization of $55.55 billion, a PE ratio of 20.35 and a beta of 0.89. The company’s 50 day moving average is $26.64 and its 200-day moving average is $27.20.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the company earned $0.27 EPS. The company’s revenue was up 17.6% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post $1.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 31st were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.50%. This is an increase from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. Enterprise Products Partners L.P.’s dividend payout ratio is currently 132.28%.

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A number of equities analysts have commented on the stock. Morgan Stanley raised shares of Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $26.37 to $26.50 in a research note on Thursday, June 15th. Sanford C. Bernstein assumed coverage on shares of Enterprise Products Partners L.P. in a research note on Tuesday, May 16th. They issued an “outperform” rating for the company. BMO Capital Markets set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Monday, June 5th. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, BidaskClub raised shares of Enterprise Products Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price 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.

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

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