Hazlett Burt & Watson Inc. Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Hazlett Burt & Watson Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 44.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,743 shares of the oil and gas producer’s stock after selling 2,161 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Enterprise Products Partners were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CORDA Investment Management LLC. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $1,032,000. Old North State Wealth Management LLC raised its holdings in shares of Enterprise Products Partners by 4.4% in the third quarter. Old North State Wealth Management LLC now owns 17,219 shares of the oil and gas producer’s stock valued at $501,000 after buying an additional 720 shares during the last quarter. Angeles Wealth Management LLC lifted its position in Enterprise Products Partners by 18.6% during the 3rd quarter. Angeles Wealth Management LLC now owns 23,950 shares of the oil and gas producer’s stock worth $697,000 after acquiring an additional 3,755 shares during the period. Van ECK Associates Corp grew its position in Enterprise Products Partners by 12.2% in the 3rd quarter. Van ECK Associates Corp now owns 84,939 shares of the oil and gas producer’s stock valued at $2,461,000 after buying an additional 9,209 shares during the last quarter. Finally, GFS Advisors LLC increased its stake in shares of Enterprise Products Partners by 8,233.3% during the third quarter. GFS Advisors LLC now owns 50,000 shares of the oil and gas producer’s stock worth $1,456,000 after acquiring an additional 49,400 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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 report on Wednesday, July 31st. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America started 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 objective for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.1 %

Shares of NYSE EPD opened at $29.13 on Tuesday. The stock’s 50-day simple moving average is $29.22 and its 200-day simple moving average is $28.96. Enterprise Products Partners L.P. has a 1 year low of $25.88 and a 1 year high of $30.05. The firm has a market cap of $63.22 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.