Linscomb Wealth Inc. Has $5.05 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Linscomb Wealth Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,425 shares of the oil and gas producer’s stock after selling 1,773 shares during the quarter. Linscomb Wealth Inc.’s holdings in Enterprise Products Partners were worth $5,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPD. Empowered Funds LLC lifted its holdings in shares of Enterprise Products Partners by 14.1% during the third quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock worth $5,288,000 after buying an additional 22,506 shares in the last quarter. Balboa Wealth Partners acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $219,000. Sargent Investment Group LLC lifted its holdings in shares of Enterprise Products Partners by 2.3% during the third quarter. Sargent Investment Group LLC now owns 21,905 shares of the oil and gas producer’s stock worth $638,000 after buying an additional 500 shares in the last quarter. Black Swift Group LLC acquired a new stake in shares of Enterprise Products Partners during the third quarter worth $349,000. Finally, Curi RMB Capital LLC lifted its holdings in shares of Enterprise Products Partners by 0.5% during the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EPD shares. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. One investment 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Trading Up 1.2 %

NYSE EPD traded up $0.36 during trading hours on Friday, hitting $31.17. 1,022,887 shares of the company’s stock were exchanged, compared to its average volume of 4,288,253. The firm has a market cap of $67.56 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a 1-year low of $25.95 and a 1-year high of $31.25. The stock has a 50-day simple moving average of $29.39 and a 200 day simple moving average of $29.03. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05.

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 business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

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.