CFM Wealth Partners LLC Cuts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

CFM Wealth Partners LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,250 shares of the oil and gas producer’s stock after selling 20,736 shares during the quarter. CFM Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $4,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 19.1% during 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 purchasing an additional 3,770 shares during the period. Sanders Morris Harris LLC boosted its stake in shares of Enterprise Products Partners by 28.1% during 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 purchasing an additional 154,822 shares during the period. Nwam LLC boosted its stake 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 purchasing an additional 4,184 shares during the period. J.W. Cole Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 10.8% during the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock valued at $1,425,000 after purchasing an additional 4,757 shares during the period. Finally, Natixis boosted its stake 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 valued at $2,185,000 after purchasing an additional 44,300 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD opened at $29.16 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $29.20 and a two-hundred day simple moving average of $28.97. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. Research analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. Enterprise Products Partners’s payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EPD shares. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $33.50.

About Enterprise Products Partners

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.