Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,309 shares of the oil and gas producer’s stock after selling 1,073 shares during the quarter. First City Capital Management Inc.’s holdings in Enterprise Products Partners were worth $213,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Enterprise Products Partners in the first quarter worth approximately $212,000. Acadian Asset Management LLC raised its holdings in Enterprise Products Partners by 5.5% in the 1st quarter. Acadian Asset Management LLC now owns 212,550 shares of the oil and gas producer’s stock valued at $6,198,000 after acquiring an additional 11,092 shares in the last quarter. Bahl & Gaynor Inc. bought a new stake in Enterprise Products Partners in the 1st quarter valued at $218,000. O Shaughnessy Asset Management LLC lifted its stake in Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares during the period. Finally, Lake Street Advisors Group LLC bought a new stake in Enterprise Products Partners in the first quarter valued at $421,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on 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. 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. 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 on the stock. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, 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 note on Wednesday, July 31st. One 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. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Up 1.3 %

Enterprise Products Partners stock opened at $31.49 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $31.54. The stock has a market capitalization of $68.26 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The firm has a 50 day simple moving average of $29.49 and a 200-day simple moving average of $29.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.