Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,591 shares of the oil and gas producer’s stock after selling 726 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $629,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in EPD. Princeton Global Asset Management LLC grew its stake in shares of 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 acquiring an additional 350 shares during the last quarter. 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 valued at $283,000 after purchasing an additional 353 shares in the last quarter. Cadence Bank raised its holdings in shares of Enterprise Products Partners by 0.7% in the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares during the last quarter. McAdam LLC lifted its stake in shares of Enterprise Products Partners by 1.3% during 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 period. Finally, Ellenbecker Investment Group grew its holdings in shares of 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 buying an additional 374 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.9 %

Shares of Enterprise Products Partners stock opened at $31.09 on Friday. The stock has a 50 day moving average of $29.39 and a 200 day moving average of $29.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a market capitalization of $67.39 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $25.95 and a fifty-two week high of $31.33.

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

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. 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 price target for the company. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus 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.