Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Reduced by AMI Investment Management Inc.

AMI Investment Management Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,633 shares of the oil and gas producer’s stock after selling 409 shares during the quarter. AMI Investment Management Inc.’s holdings in Enterprise Products Partners were worth $863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in EPD. Duncan Williams Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $226,000. Park Avenue Securities LLC raised its stake in Enterprise Products Partners by 4.2% during the third quarter. Park Avenue Securities LLC now owns 36,633 shares of the oil and gas producer’s stock worth $1,066,000 after acquiring an additional 1,474 shares during the period. Silvia Mccoll Wealth Management LLC lifted its holdings in Enterprise Products Partners by 3.1% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 21,502 shares of the oil and gas producer’s stock worth $626,000 after acquiring an additional 640 shares during the last quarter. M&R Capital Management Inc. boosted its stake in Enterprise Products Partners by 25.8% in the third quarter. M&R Capital Management Inc. now owns 2,767 shares of the oil and gas producer’s stock valued at $81,000 after acquiring an additional 567 shares during the period. Finally, Bluefin Capital Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $498,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley cut their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.08.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded up $0.06 during mid-day trading on Friday, reaching $29.70. 2,752,200 shares of the company traded hands, compared to its average volume of 4,362,001. The firm has a market cap of $64.50 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The stock has a fifty day simple moving average of $29.14 and a 200-day simple moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.07%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

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.