Global Retirement Partners LLC Sells 6,022 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Global Retirement Partners LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,810 shares of the oil and gas producer’s stock after selling 6,022 shares during the period. Global Retirement Partners LLC’s holdings in Enterprise Products Partners were worth $1,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $25,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.18 on Friday. The company’s fifty day simple moving average is $29.21 and its two-hundred day simple moving average is $28.97. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month 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. The firm has a market cap of $63.37 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

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). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given 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 82.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on EPD shares. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial increased their target price 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. Finally, Royal Bank of Canada increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $33.73.

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.