Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,185 shares of the oil and gas producer’s stock after selling 12,990 shares during the period. River Road Asset Management LLC’s holdings in Enterprise Products Partners were worth $5,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted 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 valued at $685,000 after acquiring an additional 3,770 shares during the period. Sanders Morris Harris LLC boosted its stake in Enterprise Products Partners by 28.1% in the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after acquiring an additional 154,822 shares during the period. Pathway Financial Advisers LLC boosted its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Nwam LLC raised its holdings in shares of Enterprise Products Partners by 25.1% during the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after buying an additional 4,184 shares during the last quarter. Finally, Natixis boosted its position in shares of Enterprise Products Partners by 144.9% during the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after buying an additional 44,300 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.30 on Wednesday. The firm has a market cap of $63.58 billion, a P/E ratio of 10.97, 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. The stock has a fifty day moving average price of $29.22 and a two-hundred day moving average price of $28.96. Enterprise Products Partners L.P. has a 1 year low of $25.88 and a 1 year high of $30.05.

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

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 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.