Wilkinson Global Asset Management LLC Reduces Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wilkinson Global Asset Management LLC cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 11.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,350 shares of the oil and gas producer’s stock after selling 4,450 shares during the period. Wilkinson Global Asset Management LLC’s holdings in Enterprise Products Partners were worth $971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC boosted 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 valued at $219,000 after purchasing an additional 350 shares during the last quarter. Strategic Wealth Partners Ltd. lifted its holdings 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 buying an additional 353 shares during the last quarter. Cadence Bank grew its stake in shares of Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares in the last quarter. McAdam LLC increased its holdings in Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 372 shares during the last quarter. Finally, Ellenbecker Investment Group raised its position in Enterprise Products Partners by 1.5% during the third 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 in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on EPD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.98 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $29.24 and a 200 day simple moving average of $28.97. Enterprise Products Partners L.P. has a one year low of $25.88 and a one year high of $30.12. The firm has a market capitalization of $65.07 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

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.