McElhenny Sheffield Capital Management LLC Has $1.35 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

McElhenny Sheffield Capital Management LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the third quarter, Holdings Channel reports. The institutional investor owned 46,256 shares of the oil and gas producer’s stock after selling 397 shares during the period. Enterprise Products Partners makes up about 0.4% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 16th largest position. McElhenny Sheffield Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,347,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Park Avenue Securities LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $951,000. Douglas Lane & Associates LLC raised its holdings in Enterprise Products Partners by 27.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 19,604 shares of the oil and gas producer’s stock valued at $572,000 after acquiring an additional 4,216 shares in the last quarter. Charles Schwab Trust Co lifted its position in shares of Enterprise Products Partners by 6.7% during the 1st quarter. Charles Schwab Trust Co now owns 69,900 shares of the oil and gas producer’s stock valued at $2,040,000 after acquiring an additional 4,382 shares during the period. Dynamic Advisor Solutions LLC grew its holdings in shares of Enterprise Products Partners by 15.4% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 92,503 shares of the oil and gas producer’s stock worth $2,699,000 after purchasing an additional 12,356 shares in the last quarter. Finally, Evanson Asset Management LLC increased its position in shares of Enterprise Products Partners by 16.8% in the first quarter. Evanson Asset Management LLC now owns 79,360 shares of the oil and gas producer’s stock worth $2,316,000 after purchasing an additional 11,423 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.2 %

Shares of EPD opened at $29.18 on Monday. The stock has a market capitalization of $63.37 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. 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 fifty day moving average of $29.21 and a 200-day moving average of $28.96.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm 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%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share 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 dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America started coverage on Enterprise Products Partners in a research note on Thursday. They issued a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $33.73.

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.