First Heartland Consultants Inc. Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

First Heartland Consultants Inc. lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 82.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,068 shares of the oil and gas producer’s stock after selling 101,718 shares during the quarter. First Heartland Consultants Inc.’s holdings in Enterprise Products Partners were worth $613,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in EPD. Savvy Advisors Inc. raised its position in shares of Enterprise Products Partners by 11.2% in the 3rd quarter. Savvy Advisors Inc. now owns 8,692 shares of the oil and gas producer’s stock worth $253,000 after buying an additional 876 shares during the period. Ashton Thomas Private Wealth LLC raised its position in shares of Enterprise Products Partners by 11.6% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 12,221 shares of the oil and gas producer’s stock worth $356,000 after buying an additional 1,266 shares during the period. Apollon Wealth Management LLC raised its position in shares of Enterprise Products Partners by 2.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 107,512 shares of the oil and gas producer’s stock worth $3,130,000 after buying an additional 2,255 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in Enterprise Products Partners by 4.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 228,135 shares of the oil and gas producer’s stock valued at $6,641,000 after purchasing an additional 8,680 shares in the last quarter. Finally, Meixler Investment Management Ltd. increased its holdings in Enterprise Products Partners by 3.5% in the 3rd quarter. Meixler Investment Management Ltd. now owns 74,775 shares of the oil and gas producer’s stock valued at $2,177,000 after purchasing an additional 2,525 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EPD shares. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price 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 issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Down 0.5 %

NYSE:EPD opened at $30.42 on Wednesday. The company has a market capitalization of $65.94 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.58 and a beta of 1.04. Enterprise Products Partners L.P. has a one year low of $25.90 and a one year high of $30.68. The stock has a 50-day simple moving average of $29.31 and a 200 day simple moving average of $29.00. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the business earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.90%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.