Carnegie Investment Counsel Has $433,000 Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Carnegie Investment Counsel reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,876 shares of the oil and gas producer’s stock after selling 1,238 shares during the quarter. Carnegie Investment Counsel’s holdings in Enterprise Products Partners were worth $433,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EPD. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Stephens Consulting LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $37,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EPD shares. Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $33.50.

Enterprise Products Partners Stock Performance

EPD stock opened at $29.47 on Tuesday. The firm has a market cap of $64.00 billion, a PE ratio of 11.56, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average of $29.20 and a 200-day moving average of $28.97. 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 earnings results 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). The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.13%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

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.