Chapin Davis Inc. Cuts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Chapin Davis Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,718 shares of the oil and gas producer’s stock after selling 803 shares during the quarter. Chapin Davis Inc.’s holdings in Enterprise Products Partners were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. CFM Wealth Partners LLC raised its holdings in shares of Enterprise Products Partners by 12.9% during the second quarter. CFM Wealth Partners LLC now owns 180,986 shares of the oil and gas producer’s stock valued at $5,245,000 after purchasing an additional 20,736 shares during the last quarter. Objectivity Squared LLC lifted its holdings in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Objectivity Squared LLC now owns 41,818 shares of the oil and gas producer’s stock valued at $1,238,000 after acquiring an additional 735 shares during the last quarter. Brookstone Capital Management increased its position in shares of Enterprise Products Partners by 3.8% during the 2nd quarter. Brookstone Capital Management now owns 27,149 shares of the oil and gas producer’s stock valued at $807,000 after purchasing an additional 992 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Enterprise Products Partners by 0.7% in the second quarter. Blue Trust Inc. now owns 75,230 shares of the oil and gas producer’s stock valued at $2,195,000 after acquiring an additional 557 shares during the period. Finally, Ellsworth Advisors LLC raised its position in Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after purchasing an additional 383 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD traded up $0.15 during trading on Friday, hitting $29.17. The company’s stock had a trading volume of 4,136,812 shares, compared to its average volume of 4,649,251. The firm has a market cap of $63.34 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The firm has a 50 day moving average price of $29.01 and a 200 day moving average price of $28.52. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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). The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price 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. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lowered their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Finally, Morgan Stanley dropped their price target 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 investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.