Balyasny Asset Management LLC Cuts Stake in Enterprise Products Partners L.P. (EPD)

Balyasny Asset Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 90.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,963 shares of the oil and gas producer’s stock after selling 675,524 shares during the period. Balyasny Asset Management LLC’s holdings in Enterprise Products Partners L.P. were worth $1,922,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. First Financial Corp IN raised its stake in shares of Enterprise Products Partners L.P. by 11.1% in the 2nd quarter. First Financial Corp IN now owns 4,000 shares of the oil and gas producer’s stock valued at $108,000 after acquiring an additional 400 shares during the period. First Eagle Investment Management LLC purchased a new stake in Enterprise Products Partners L.P. during the 2nd quarter worth $130,000. Camarda Financial Advisors LLC increased its stake in Enterprise Products Partners L.P. by 0.6% during the 2nd quarter. Camarda Financial Advisors LLC now owns 4,835 shares of the oil and gas producer’s stock worth $131,000 after buying an additional 27 shares during the period. Intellectus Partners LLC increased its stake in Enterprise Products Partners L.P. by 8.0% during the 1st quarter. Intellectus Partners LLC now owns 5,400 shares of the oil and gas producer’s stock worth $149,000 after buying an additional 399 shares during the period. Finally, Jacobi Capital Management LLC increased its stake in Enterprise Products Partners L.P. by 690.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 5,449 shares of the oil and gas producer’s stock worth $148,000 after buying an additional 4,760 shares during the period. 37.56% of the stock is currently owned by institutional investors and hedge funds.

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EPD has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price target on shares of Enterprise Products Partners L.P. in a research note on Friday, August 11th. Scotiabank set a $33.00 price target on shares of Enterprise Products Partners L.P. and gave the stock a “buy” rating in a research note on Friday, July 21st. BMO Capital Markets reaffirmed a “buy” rating and set a $33.00 price target on shares of Enterprise Products Partners L.P. in a research note on Wednesday, July 12th. Jefferies Group LLC dropped their price target on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, September 1st. Finally, BidaskClub raised shares of Enterprise Products Partners L.P. from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Enterprise Products Partners L.P. has an average rating of “Buy” and an average target price of $30.99.

Enterprise Products Partners L.P. (NYSE EPD) opened at 26.66 on Friday. Enterprise Products Partners L.P. has a one year low of $24.01 and a one year high of $30.25. The firm has a market capitalization of $57.27 billion, a price-to-earnings ratio of 20.98 and a beta of 0.90. The firm’s 50-day moving average is $26.12 and its 200 day moving average is $26.75.

Enterprise Products Partners L.P. (NYSE:EPD) last released its earnings results on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.03). The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. Enterprise Products Partners L.P.’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 earnings per share. Analysts forecast that Enterprise Products Partners L.P. will post $1.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Tuesday, October 31st will be paid a dividend of $0.4225 per share. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 6.34%. Enterprise Products Partners L.P.’s dividend payout ratio is presently 132.28%.

About Enterprise Products Partners L.P.

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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