Ballast Advisors LLC Sells 1,834 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Ballast Advisors LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 305,122 shares of the oil and gas producer’s stock after selling 1,834 shares during the period. Enterprise Products Partners makes up approximately 2.7% of Ballast Advisors LLC’s portfolio, making the stock its 10th biggest holding. Ballast Advisors LLC’s holdings in Enterprise Products Partners were worth $8,882,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $587,000. GSA Capital Partners LLP boosted its stake in Enterprise Products Partners by 135.2% during the first quarter. GSA Capital Partners LLP now owns 22,030 shares of the oil and gas producer’s stock valued at $643,000 after buying an additional 12,663 shares during the last quarter. Chevy Chase Trust Holdings LLC bought a new stake in Enterprise Products Partners in the first quarter worth about $219,000. Rehmann Capital Advisory Group increased its stake in shares of Enterprise Products Partners by 7.6% during the first quarter. Rehmann Capital Advisory Group now owns 18,017 shares of the oil and gas producer’s stock valued at $526,000 after buying an additional 1,272 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Enterprise Products Partners by 7.2% during the 1st quarter. Larson Financial Group LLC now owns 11,045 shares of the oil and gas producer’s stock worth $322,000 after acquiring an additional 746 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 1.2 %

Shares of NYSE EPD traded up $0.35 during mid-day trading on Wednesday, hitting $29.65. The company had a trading volume of 459,227 shares, compared to its average volume of 4,275,865. Enterprise Products Partners L.P. has a one year low of $25.88 and a one year high of $30.05. The company has a market capitalization of $64.35 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The firm has a 50-day simple moving average of $29.22 and a two-hundred day simple moving average of $28.96. 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 issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.08%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EPD shares. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $34.00.

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.