TCW Group Inc. Sells 16,621 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

TCW Group Inc. lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 43.3% in the third quarter, HoldingsChannel reports. The fund owned 21,772 shares of the oil and gas producer’s stock after selling 16,621 shares during the period. TCW Group Inc.’s holdings in Enterprise Products Partners were worth $634,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of EPD. Curi RMB Capital LLC boosted its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after purchasing an additional 339 shares during the period. Zega Financial LLC raised its position in shares of Enterprise Products Partners by 1.7% in the third quarter. Zega Financial LLC now owns 20,870 shares of the oil and gas producer’s stock valued at $608,000 after buying an additional 344 shares in the last quarter. Tranquility Partners LLC boosted its stake in shares of Enterprise Products Partners by 1.5% in the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after buying an additional 346 shares during the period. Princeton Global Asset Management LLC grew its position in Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. increased its stake in Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.41 on Friday. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $70.24 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.69 and a beta of 1.08. The firm has a 50 day simple moving average of $30.68 and a 200 day simple moving average of $29.60.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.48%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent analyst reports. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.00.

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.