Stock Yards Bank & Trust Co. Sells 1,650 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Stock Yards Bank & Trust Co. decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 57,344 shares of the oil and gas producer’s stock after selling 1,650 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Enterprise Products Partners were worth $1,662,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. JRM Investment Counsel LLC lifted its stake in Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares during the period. Linscomb & Williams Inc. lifted its stake in Enterprise Products Partners by 16.6% in the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after acquiring an additional 29,112 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in Enterprise Products Partners by 37.5% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after acquiring an additional 240,300 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in Enterprise Products Partners by 19.1% in 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 acquiring an additional 3,770 shares during the period. Finally, Platform Technology Partners lifted its stake in Enterprise Products Partners by 14.4% in the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock worth $722,000 after acquiring an additional 3,426 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EPD. Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Price Performance

EPD opened at $29.51 on Wednesday. The stock has a 50-day moving average price of $29.21 and a 200-day moving average price of $28.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm has a market cap of $64.08 billion, a PE ratio of 11.57, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.12%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Enterprise Products Partners Company 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.