Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Doliver Advisors LP

Doliver Advisors LP lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,398 shares of the oil and gas producer’s stock after selling 1,280 shares during the period. Enterprise Products Partners accounts for about 0.8% of Doliver Advisors LP’s holdings, making the stock its 15th biggest position. Doliver Advisors LP’s holdings in Enterprise Products Partners were worth $2,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bluefin Capital Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $498,000. Sanctuary Advisors LLC purchased a new position in Enterprise Products Partners during the second quarter worth about $13,791,000. Clear Rock Advisors LLC lifted its position in Enterprise Products Partners by 8.9% in the second quarter. Clear Rock Advisors LLC now owns 71,273 shares of the oil and gas producer’s stock valued at $2,065,000 after purchasing an additional 5,830 shares during the period. Creekside Partners purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $463,000. Finally, Cetera Investment Advisers increased its position in Enterprise Products Partners by 11.8% during the 2nd quarter. Cetera Investment Advisers now owns 901,468 shares of the oil and gas producer’s stock worth $26,125,000 after purchasing an additional 95,189 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.45 on Thursday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The firm has a market cap of $63.95 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company’s 50-day moving average is $29.14 and its two-hundred day moving average is $28.94. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

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

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.13%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

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

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.