McElhenny Sheffield Capital Management LLC Has $1.35 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

McElhenny Sheffield Capital Management LLC lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,256 shares of the oil and gas producer’s stock after selling 397 shares during the period. Enterprise Products Partners makes up 0.4% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 16th biggest position. McElhenny Sheffield Capital Management LLC’s holdings in Enterprise Products Partners were worth $1,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EPD. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the 2nd quarter worth about $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in 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 acquiring an additional 1,000 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.2 %

Shares of NYSE:EPD opened at $29.18 on Monday. Enterprise Products Partners L.P. has a 52-week low of $25.61 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 $63.37 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a 50-day simple moving average of $29.21 and a 200 day simple moving average of $28.96.

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). The company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EPD shares. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday. They issued a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial increased their price objective 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. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $33.73.

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.