Wedmont Private Capital Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

Wedmont Private Capital lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,907 shares of the oil and gas producer’s stock after selling 4,470 shares during the quarter. Wedmont Private Capital’s holdings in Enterprise Products Partners were worth $795,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JRM Investment Counsel LLC raised its position in shares of Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after buying an additional 10,404 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares during the period. Nwam LLC raised its position in shares of Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 4,184 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of Enterprise Products Partners by 10.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after buying an additional 4,757 shares during the period. Finally, Natixis raised its position in Enterprise Products Partners by 144.9% in the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock valued at $2,185,000 after purchasing an additional 44,300 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.7 %

NYSE:EPD opened at $29.46 on Friday. The company has a market capitalization of $63.94 billion, a price-to-earnings ratio of 11.24, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. 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 50-day simple moving average of $29.16 and a 200 day simple moving average of $28.97. 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 posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders 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 7.13%. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Analysts Set New Price Targets

EPD has been the topic of several research reports. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $33.50.

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.