True North Advisors LLC Sells 32,419 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

True North Advisors LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 29.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 78,425 shares of the oil and gas producer’s stock after selling 32,419 shares during the period. True North Advisors LLC’s holdings in Enterprise Products Partners were worth $2,283,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners in the second quarter valued at about $25,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter valued at approximately $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at approximately $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $29.24 on Wednesday. The company has a market capitalization of $63.50 billion, a PE ratio of 11.45, a P/E/G ratio of 1.50 and a beta of 1.03. 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 L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The firm has a fifty day simple moving average of $29.12 and a 200 day simple moving average of $28.96.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.18%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EPD shares. StockNews.com downgraded 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 objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and a consensus price target of $33.50.

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.