Anchor Investment Management LLC Reduces Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Anchor Investment Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,335 shares of the oil and gas producer’s stock after selling 500 shares during the quarter. Anchor Investment Management LLC’s holdings in Enterprise Products Partners were worth $1,029,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners in the second quarter valued at $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter worth about $29,000. DiNuzzo Private Wealth Inc. grew its holdings 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 purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. grew its holdings 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 purchasing an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the third quarter worth about $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of several research reports. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $32.41 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $34.63. The business’s 50-day moving average price is $30.68 and its 200 day moving average price is $29.60. The firm has a market cap of $70.24 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.67 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the firm posted $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.