ProShare Advisors LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 115,284 shares of the oil and gas producer’s stock after selling 16,804 shares during the period. ProShare Advisors LLC’s holdings in Enterprise Products Partners were worth $4,105,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Energy Income Partners LLC bought a new position in Enterprise Products Partners during the second quarter worth about $508,461,000. Bank of America Corp DE acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $416,553,000. BlackRock Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $255,325,000. Berkley W R Corp bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $250,887,000. Finally, Corient Private Wealth LP bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $99,119,000. Institutional investors and hedge funds own 26.07% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have commented on EPD. Truist Financial upped their target price on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Friday, October 30th. Melius Research assumed coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price target for the company. TD Cowen restated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a research note on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.18.
Check Out Our Latest Analysis on Enterprise Products Partners
Enterprise Products Partners Trading Down 0.2%
NYSE:EPD opened at $36.64 on Friday. The company has a market cap of $79.12 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.48. Enterprise Products Partners L.P. has a twelve month low of $30.62 and a twelve month high of $40.17. The business has a 50 day moving average price of $37.56 and a two-hundred day moving average price of $37.34. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $17.95 billion during the quarter, compared to analysts’ expectations of $14.98 billion. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.50%. The firm’s revenue was up 49.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 3.12 EPS for the current fiscal year.
Enterprise Products Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio is presently 74.17%.
Enterprise Products Partners Profile
Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.
Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.
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