Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 666,134 shares of the oil and gas producer’s stock after selling 16,381 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Enterprise Products Partners were worth $19,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Paragon Advisors LLC purchased a new position in Enterprise Products Partners in the 3rd quarter worth approximately $2,628,000. Thrivent Financial for Lutherans lifted its position in Enterprise Products Partners by 5.2% during 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 buying an additional 200,625 shares in the last quarter. Caprock Group LLC acquired a new position in Enterprise Products Partners during the third quarter worth $1,943,000. Atlanta Consulting Group Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at $670,000. Finally, Empowered Funds LLC raised its holdings in shares of Enterprise Products Partners by 14.1% during the 3rd quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock worth $5,288,000 after acquiring an additional 22,506 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on EPD. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a 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 note on Monday, October 28th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Down 0.2 %

EPD opened at $32.80 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $71.10 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.72 and a beta of 1.08. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $34.63. The business has a fifty day simple moving average of $30.43 and a 200-day simple moving average of $29.48.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. On average, equities analysts expect 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. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.40%. Enterprise Products Partners’s payout ratio is 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.