Childress Capital Advisors LLC Reduces Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Childress Capital Advisors LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,267 shares of the oil and gas producer’s stock after selling 600 shares during the period. Enterprise Products Partners comprises approximately 1.5% of Childress Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Childress Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $5,539,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its stake in shares of 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 buying an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD opened at $29.11 on Wednesday. The firm has a market cap of $63.18 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.32 and a beta of 1.03. 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’s 50-day moving average price is $29.24 and its 200 day moving average price is $28.94. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted 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). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

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 given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.21%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

Several research analysts recently commented on EPD shares. Royal Bank of Canada increased their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Truist Financial increased their price objective 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. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $33.73.

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.