Moloney Securities Asset Management LLC Sells 8,878 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Moloney Securities Asset Management LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 18.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,911 shares of the oil and gas producer’s stock after selling 8,878 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,133,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EPD. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Enterprise Products Partners by 1,000.0% during the 3rd 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 last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Finally, Denver PWM LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $29.30 on Wednesday. Enterprise Products Partners L.P. has a 52-week low of $25.88 and a 52-week high of $30.05. 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 company has a market capitalization of $63.58 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.31 and a beta of 1.04. The company has a fifty day moving average of $29.22 and a 200-day moving average of $28.96.

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

Enterprise Products Partners Dividend Announcement

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 issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. One equities 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’s stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $34.00.

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.