Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,829,932 shares of the oil and gas producer’s stock after selling 207,587 shares during the quarter. Enterprise Products Partners makes up about 13.3% of Longfellow Investment Management Co. LLC’s investment portfolio, making the stock its largest position. Longfellow Investment Management Co. LLC’s holdings in Enterprise Products Partners were worth $53,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $32.93 on Monday. The firm’s 50 day moving average price is $29.72 and its two-hundred day moving average price is $29.20. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $32.93. The stock has a market cap of $71.38 billion, a PE ratio of 12.29, a PEG ratio of 1.69 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. 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 6.38%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Wall Street Analyst Weigh In

A number of research firms have commented on EPD. 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. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Company 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.