Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,829,932 shares of the oil and gas producer’s stock after selling 207,587 shares during the period. Enterprise Products Partners comprises 13.3% of Longfellow Investment Management Co. LLC’s portfolio, making the stock its largest holding. Longfellow Investment Management Co. LLC owned about 0.08% of Enterprise Products Partners worth $53,269,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Paragon Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $2,628,000. Thrivent Financial for Lutherans increased its stake in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after acquiring an additional 200,625 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after acquiring an additional 3,770 shares in the last quarter. Caprock Group LLC acquired a new stake in Enterprise Products Partners during the third quarter valued at $1,943,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in Enterprise Products Partners in the third quarter valued at about $670,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One investment 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 company’s stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $32.93 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s 50-day moving average is $29.72 and its 200-day moving average is $29.20. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $32.93. The company has a market cap of $71.38 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.69 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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). The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

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.