Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Creative Planning

Creative Planning lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 779,505 shares of the oil and gas producer’s stock after selling 43,842 shares during the quarter. Creative Planning’s holdings in Enterprise Products Partners were worth $22,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EPD. Empirical Asset Management LLC raised its stake in Enterprise Products Partners by 2.8% during the third quarter. Empirical Asset Management LLC now owns 16,491 shares of the oil and gas producer’s stock worth $480,000 after acquiring an additional 450 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of Enterprise Products Partners in the 3rd quarter worth approximately $1,707,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Enterprise Products Partners by 438.3% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,864 shares of the oil and gas producer’s stock valued at $83,000 after purchasing an additional 2,332 shares during the period. Gilman Hill Asset Management LLC grew its stake in Enterprise Products Partners by 2.1% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 221,546 shares of the oil and gas producer’s stock worth $6,449,000 after buying an additional 4,658 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Enterprise Products Partners by 3.3% in the third quarter. Exchange Traded Concepts LLC now owns 808,154 shares of the oil and gas producer’s stock worth $23,525,000 after buying an additional 26,063 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.2 %

Shares of EPD stock opened at $29.18 on Monday. The stock has a 50-day simple moving average of $29.21 and a 200 day simple moving average of $28.96. The stock has a market capitalization of $63.37 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for 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 for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared 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 is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial raised their price target 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. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday. They set a “buy” rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $33.73.

About Enterprise Products Partners

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.