Bedell Frazier Investment Counselling LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 6.5% in the 3rd quarter, Holdings Channel reports. The fund owned 6,980 shares of the oil and gas producer’s stock after selling 486 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Enterprise Products Partners were worth $203,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $29,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. boosted its position in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $36,000. 26.07% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on EPD shares. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus target price of $34.00.
Enterprise Products Partners Price Performance
NYSE:EPD opened at $32.82 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average price is $29.72 and its two-hundred day moving average price is $29.20. The firm has a market capitalization of $71.14 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.69 and a beta of 1.04. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $32.85.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.
Enterprise Products Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.40%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.
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