Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Custom Index Systems LLC

Custom Index Systems LLC lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,863 shares of the oil and gas producer’s stock after selling 9,975 shares during the quarter. Custom Index Systems LLC’s holdings in Enterprise Products Partners were worth $1,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Blackstone Inc. increased its position in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after buying an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. lifted its position in shares of Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC grew its stake in Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares during the period. Finally, Berkley W R Corp increased its holdings in Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after acquiring an additional 1,000,000 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of several research analyst reports. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Stock Up 0.1 %

Shares of Enterprise Products Partners stock traded up $0.02 on Friday, reaching $29.05. 3,144,915 shares of the company were exchanged, compared to its average volume of 3,117,903. The stock’s 50 day moving average price is $29.24 and its 200-day moving average price is $28.95. The company has a market cap of $63.05 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its 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 business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period last year, the company earned $0.57 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.23%. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.