Sheets Smith Wealth Management Sells 12,420 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sheets Smith Wealth Management lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.1% during the third quarter, Holdings Channel reports. The firm owned 232,090 shares of the oil and gas producer’s stock after selling 12,420 shares during the period. Sheets Smith Wealth Management’s holdings in Enterprise Products Partners were worth $6,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of EPD. Carmel Capital Partners LLC raised its position in Enterprise Products Partners by 12.4% during the third quarter. Carmel Capital Partners LLC now owns 9,286 shares of the oil and gas producer’s stock valued at $270,000 after purchasing an additional 1,022 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Enterprise Products Partners by 4.0% during the 3rd quarter. Lindbrook Capital LLC now owns 78,828 shares of the oil and gas producer’s stock worth $2,295,000 after buying an additional 3,062 shares in the last quarter. Assetmark Inc. lifted its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Enterprise Products Partners by 21.5% during the third quarter. Verdence Capital Advisors LLC now owns 10,784 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Crumly & Associates Inc. lifted its holdings in shares of Enterprise Products Partners by 3.1% in the third quarter. Crumly & Associates Inc. now owns 15,898 shares of the oil and gas producer’s stock worth $463,000 after acquiring an additional 473 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.6 %

Shares of EPD stock opened at $30.42 on Friday. The stock has a 50-day moving average of $29.28 and a 200-day moving average of $28.99. 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 stock has a market cap of $66.02 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.55 and a beta of 1.04. Enterprise Products Partners L.P. has a 1-year low of $25.88 and a 1-year high of $30.45.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current 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 issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.90%. Enterprise Products Partners’s payout ratio is 78.65%.

Analysts Set New Price Targets

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