Kirtland Hills Capital Management LLC Sells 1,319 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Kirtland Hills Capital Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,743 shares of the oil and gas producer’s stock after selling 1,319 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in Enterprise Products Partners were worth $225,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EPD. Curi RMB Capital LLC boosted its holdings in Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the period. Tranquility Partners LLC boosted its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after buying an additional 346 shares during the period. Princeton Global Asset Management LLC lifted its stake in Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after purchasing an additional 350 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its stake in Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares in the last quarter. Finally, Cadence Bank lifted its stake in Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after purchasing an additional 365 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented 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. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.63 on Wednesday. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $31.64. The company has a market capitalization of $68.56 billion, a PE ratio of 11.85, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a 50 day moving average price of $29.54 and a 200-day moving average price of $29.11. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business posted $0.60 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.64%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.