Colonial River Investments LLC Sells 525 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Colonial River Investments LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,346 shares of the oil and gas producer’s stock after selling 525 shares during the period. Colonial River Investments LLC’s holdings in Enterprise Products Partners were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EPD. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the second quarter valued at $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the second quarter worth about $29,000. DiNuzzo Private Wealth Inc. grew its holdings in 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 worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its stake in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $37,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.6 %

Enterprise Products Partners stock opened at $30.42 on Friday. Enterprise Products Partners L.P. has a one year low of $25.88 and a one year high of $30.45. The stock has a fifty day moving average of $29.28 and a 200 day moving average of $28.99. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a market cap of $66.02 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, sell-side analysts predict 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. Investors 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 yield of 6.90%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Analysts Set New Price Targets

A number of research analysts have issued reports on EPD shares. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $34.00.

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.