Infrastructure Capital Advisors LLC Sells 226,025 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Infrastructure Capital Advisors LLC cut its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 10.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,916,859 shares of the oil and gas producer’s stock after selling 226,025 shares during the period. Enterprise Products Partners makes up approximately 7.5% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 4th largest position. Infrastructure Capital Advisors LLC owned about 0.09% of Enterprise Products Partners worth $55,800,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.65 on Friday. The company has a market capitalization of $72.94 billion, a PE ratio of 12.60, a P/E/G ratio of 1.74 and a beta of 1.04. The company has a 50 day simple moving average of $30.01 and a two-hundred day simple moving average of $29.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $33.85.

Enterprise Products Partners (NYSE:EPD) last released its 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 firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 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.