PSI Advisors LLC Reduces Position in Enterprise Products Partners L.P. (NYSE:EPD)

PSI Advisors LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,632 shares of the oil and gas producer’s stock after selling 453 shares during the quarter. PSI Advisors LLC’s holdings in Enterprise Products Partners were worth $601,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strategic Wealth Partners Ltd. boosted its position in shares of 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 valued at $283,000 after acquiring an additional 353 shares during the last quarter. Cadence Bank boosted its position in shares of Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares during the last quarter. McAdam LLC boosted its position in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after acquiring an additional 372 shares during the last quarter. Ellenbecker Investment Group boosted its position in shares of Enterprise Products Partners by 1.5% during the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after acquiring an additional 374 shares during the last quarter. Finally, Advisor OS LLC boosted its position in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after acquiring an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial upped 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 report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Up 0.4 %

EPD stock opened at $29.10 on Thursday. The company’s 50 day moving average price is $29.25 and its 200 day moving average price is $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The firm has a market capitalization of $63.19 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.22%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

About Enterprise Products Partners

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.