Davis R M Inc. Sells 7,239 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Davis R M Inc. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,531 shares of the oil and gas producer’s stock after selling 7,239 shares during the period. Davis R M Inc.’s holdings in Enterprise Products Partners were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. lifted its stake in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its position in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners during the third quarter worth $36,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EPD. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial lifted their price target 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. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Down 1.5 %

EPD opened at $32.34 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $25.96 and a twelve month high of $33.22. The company has a fifty day moving average of $29.77 and a 200-day moving average of $29.22. The stock has a market cap of $70.10 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

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

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.49%. Enterprise Products Partners’s 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.