Valley National Advisers Inc. Has $883,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Valley National Advisers Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,346 shares of the oil and gas producer’s stock after selling 2,109 shares during the quarter. Valley National Advisers Inc.’s holdings in Enterprise Products Partners were worth $883,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EPD. Hamlin Capital Management LLC grew its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 4,923,948 shares of the oil and gas producer’s stock valued at $143,336,000 after buying an additional 24,335 shares in the last quarter. Modera Wealth Management LLC grew its holdings in shares of Enterprise Products Partners by 4.5% during the 3rd quarter. Modera Wealth Management LLC now owns 18,508 shares of the oil and gas producer’s stock worth $539,000 after purchasing an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Enterprise Products Partners by 1.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 961,389 shares of the oil and gas producer’s stock worth $27,986,000 after purchasing an additional 14,760 shares in the last quarter. PFG Investments LLC grew its holdings in shares of Enterprise Products Partners by 0.5% during the 3rd quarter. PFG Investments LLC now owns 127,503 shares of the oil and gas producer’s stock worth $3,712,000 after purchasing an additional 675 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Truist Financial increased 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. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities 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 MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Trading Up 0.1 %

Shares of Enterprise Products Partners stock opened at $29.05 on Monday. 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 52 week low of $25.61 and a 52 week high of $30.05. The stock has a 50 day moving average price of $29.24 and a two-hundred day moving average price of $28.94. The stock has a market capitalization of $63.05 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted 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). 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 the consensus estimate of $14.23 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.23%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.