Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by HFG Advisors Inc.

HFG Advisors Inc. trimmed its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 47.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the oil and gas producer’s stock after selling 8,720 shares during the quarter. HFG Advisors Inc.’s holdings in Enterprise Products Partners were worth $284,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fermata Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $249,000. Curated Wealth Partners LLC boosted its holdings in shares of Enterprise Products Partners by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 16,670 shares of the oil and gas producer’s stock worth $483,000 after purchasing an additional 33,340 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Enterprise Products Partners by 12.3% during the second quarter. Sound Income Strategies LLC now owns 11,401 shares of the oil and gas producer’s stock worth $330,000 after purchasing an additional 1,247 shares during the period. Howard Financial Services LTD. boosted its holdings in shares of Enterprise Products Partners by 1.7% during the second quarter. Howard Financial Services LTD. now owns 89,172 shares of the oil and gas producer’s stock worth $2,584,000 after purchasing an additional 1,497 shares during the period. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Enterprise Products Partners by 14.0% during the second quarter. Diversify Advisory Services LLC now owns 13,602 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 1,673 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 2.1 %

Enterprise Products Partners stock traded down $0.62 during mid-day trading on Friday, reaching $28.71. The stock had a trading volume of 10,029,438 shares, compared to its average volume of 4,602,592. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The stock’s 50-day simple moving average is $28.97 and its 200-day simple moving average is $28.46. The firm has a market capitalization of $62.35 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.31%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, July 31st. Enterprise Products Partners’s payout ratio is presently 82.35%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EPD shares. JPMorgan Chase & Co. cut their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Morgan Stanley cut their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. StockNews.com raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.08.

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.