Segment Wealth Management LLC Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Segment Wealth Management LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 237,705 shares of the oil and gas producer’s stock after selling 7,090 shares during the quarter. Segment Wealth Management LLC’s holdings in Enterprise Products Partners were worth $6,920,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its stake in Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares during the period. Sanders Morris Harris LLC grew its position in shares of Enterprise Products Partners by 28.1% in 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 increased 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 worth $591,000 after purchasing an additional 4,184 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Enterprise Products Partners by 10.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after purchasing an additional 4,757 shares during the last quarter. Finally, Natixis lifted its stake in Enterprise Products Partners by 144.9% in the 1st quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock valued at $2,185,000 after buying an additional 44,300 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.2 %

Shares of NYSE EPD opened at $28.95 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a market capitalization of $62.86 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a 50 day simple moving average of $29.24 and a 200-day simple moving average of $28.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent research reports. Bank of America started coverage on 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. Royal Bank of Canada increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial raised their target price 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. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $33.73.

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.