Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Segment Wealth Management LLC

Segment Wealth Management LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 237,705 shares of the oil and gas producer’s stock after selling 7,090 shares during the period. Segment Wealth Management LLC’s holdings in Enterprise Products Partners were worth $6,920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC lifted its position in shares of Enterprise Products Partners by 3.8% during the third quarter. Private Advisor Group LLC now owns 377,263 shares of the oil and gas producer’s stock worth $10,982,000 after purchasing an additional 13,890 shares in the last quarter. Symphony Financial Ltd. Co. acquired a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $201,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Enterprise Products Partners by 16.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,045,599 shares of the oil and gas producer’s stock worth $59,547,000 after buying an additional 288,420 shares in the last quarter. Eastern Bank purchased a new position in Enterprise Products Partners in the 3rd quarter valued at approximately $63,000. Finally, Magnolia Capital Management Ltd. grew its stake in shares of Enterprise Products Partners by 15.2% in the third quarter. Magnolia Capital Management Ltd. now owns 13,015 shares of the oil and gas producer’s stock worth $379,000 after acquiring an additional 1,715 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.2 %

Shares of Enterprise Products Partners stock opened at $28.95 on Wednesday. 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 company has a fifty day simple moving average of $29.24 and a 200-day simple moving average of $28.95. The stock has a market cap of $62.86 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

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

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.26%. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Company 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.