Duff & Phelps Investment Management Co. decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,109,842 shares of the oil and gas producer's stock after selling 127,000 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.10% of Enterprise Products Partners worth $61,418,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter worth $25,000. Mascoma Wealth Management LLC purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd 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 period. Assetmark Inc. lifted its stake in 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 in the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the 3rd quarter valued at about $36,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.
Enterprise Products Partners Stock Performance
Shares of Enterprise Products Partners stock traded down $0.34 on Monday, reaching $32.46. 4,242,407 shares of the stock were exchanged, compared to its average volume of 4,327,856. The firm has a market capitalization of $70.36 billion, a PE ratio of 12.16, a PEG ratio of 1.69 and a beta of 1.08. Enterprise Products Partners L.P. has a 1-year low of $25.96 and a 1-year high of $34.63. The business has a fifty day moving average price of $30.50 and a two-hundred day moving average price of $29.52. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The business's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.
Enterprise Products Partners Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.47%. Enterprise Products Partners's payout ratio is currently 78.65%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Bank of America initiated 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 objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of "Buy" and a consensus price target of $34.00.
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About Enterprise Products Partners
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Free Report)
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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