North American Management Corp lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 170,954 shares of the oil and gas producer’s stock after selling 16,692 shares during the period. North American Management Corp’s holdings in Enterprise Products Partners were worth $2,699,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Guggenheim Capital LLC boosted its stake in Enterprise Products Partners by 15.8% during the first quarter. Guggenheim Capital LLC now owns 92,284 shares of the oil and gas producer’s stock worth $1,320,000 after buying an additional 12,608 shares during the period. Modus Advisors LLC boosted its position in shares of Enterprise Products Partners by 33.5% during the 2nd quarter. Modus Advisors LLC now owns 27,882 shares of the oil and gas producer’s stock worth $507,000 after purchasing an additional 7,000 shares during the period. Birch Capital Management LLC increased its holdings in Enterprise Products Partners by 20.6% in the 2nd quarter. Birch Capital Management LLC now owns 72,525 shares of the oil and gas producer’s stock valued at $1,318,000 after purchasing an additional 12,371 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Enterprise Products Partners by 5.2% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 30,997 shares of the oil and gas producer’s stock valued at $562,000 after purchasing an additional 1,533 shares during the period. Finally, Walnut Private Equity Partners LLC raised its position in Enterprise Products Partners by 20.2% in the second quarter. Walnut Private Equity Partners LLC now owns 624,785 shares of the oil and gas producer’s stock valued at $11,348,000 after purchasing an additional 104,785 shares during the period. 32.49% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on EPD shares. Citigroup dropped their price objective on Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Piper Sandler dropped their target price on Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. ValuEngine cut shares of Enterprise Products Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 1st. Capital One Financial started coverage on shares of Enterprise Products Partners in a research note on Wednesday, October 21st. They issued an “overweight” rating for the company. Finally, SunTrust Banks upped their target price on shares of Enterprise Products Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $24.36.
NYSE:EPD traded down $0.28 during mid-day trading on Friday, hitting $16.55. The stock had a trading volume of 122,542 shares, compared to its average volume of 9,155,081. Enterprise Products Partners L.P. has a twelve month low of $10.27 and a twelve month high of $29.22. The stock has a 50-day simple moving average of $16.71 and a two-hundred day simple moving average of $17.71. The company has a current ratio of 0.95, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $36.79 billion, a PE ratio of 8.25 and a beta of 1.42.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 28th. The oil and gas producer reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.13 billion. Enterprise Products Partners had a net margin of 15.41% and a return on equity of 18.06%. The company’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Shareholders of record on Friday, October 30th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date is Thursday, October 29th. Enterprise Products Partners’s dividend payout ratio is presently 82.79%.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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