Enterprise Products Partners L.P. (NYSE:EPD) Position Reduced by Creative Planning

Creative Planning reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 779,505 shares of the oil and gas producer’s stock after selling 43,842 shares during the period. Creative Planning’s holdings in Enterprise Products Partners were worth $22,691,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC raised its stake in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the period. Sanders Morris Harris LLC lifted its stake in Enterprise Products Partners by 28.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after acquiring an additional 154,822 shares in the last quarter. Nwam LLC boosted its position in Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after acquiring an additional 4,184 shares during the period. J.W. Cole Advisors Inc. grew its stake in Enterprise Products Partners by 10.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock valued at $1,425,000 after acquiring an additional 4,757 shares in the last quarter. Finally, Natixis increased its holdings in shares of Enterprise Products Partners by 144.9% in the 1st quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock valued at $2,185,000 after purchasing an additional 44,300 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America began coverage on Enterprise Products Partners in a research note on Thursday. They issued a “buy” rating and a $35.00 target price on the stock. One investment analyst has 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, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.18 on Monday. The business’s 50-day simple moving average is $29.21 and its 200-day simple moving average is $28.96. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter last year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research 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 company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.35%.

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.