Noesis Capital Mangement Corp reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,059 shares of the oil and gas producer’s stock after selling 600 shares during the period. Noesis Capital Mangement Corp’s holdings in Enterprise Products Partners were worth $459,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mcmillion Capital Management Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth $29,000. TCI Wealth Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 400.0% during the third quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 800 shares during the period. D Orazio & Associates Inc. acquired a new position in shares of Enterprise Products Partners during the third quarter valued at $30,000. Centersquare Investment Management LLC acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $34,000. Finally, TRUE Private Wealth Advisors acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $41,000. 36.77% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on EPD. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Royal Bank of Canada began coverage on shares of Enterprise Products Partners in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, August 26th. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Scotia Howard Weill assumed coverage on shares of Enterprise Products Partners in a report on Wednesday, September 4th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $33.50.
EPD stock traded down $0.28 during trading on Monday, hitting $26.05. The company had a trading volume of 4,445,850 shares, compared to its average volume of 4,044,088. The firm has a market capitalization of $58.34 billion, a price-to-earnings ratio of 13.43, a P/E/G ratio of 3.05 and a beta of 0.87. The business has a 50 day moving average of $27.64 and a 200 day moving average of $28.61. Enterprise Products Partners L.P. has a fifty-two week low of $23.33 and a fifty-two week high of $30.86. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.05). The company had revenue of $7.96 billion during the quarter, compared to analyst estimates of $8.97 billion. Enterprise Products Partners had a return on equity of 19.78% and a net margin of 14.07%. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Thursday, October 31st will be issued a $0.4425 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.77 annualized dividend and a yield of 6.79%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. Enterprise Products Partners’s dividend payout ratio is presently 91.24%.
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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