Childress Capital Advisors LLC Reduces Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Childress Capital Advisors LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,267 shares of the oil and gas producer’s stock after selling 600 shares during the period. Enterprise Products Partners accounts for about 1.5% of Childress Capital Advisors LLC’s holdings, making the stock its 15th biggest position. Childress Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $5,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $37,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EPD shares. 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 lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $29.11 on Wednesday. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The stock has a market cap of $63.18 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. The business’s fifty day moving average price is $29.24 and its two-hundred day moving average price is $28.94. 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 (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share 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 firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.