Investment Management Associates Inc. ADV Sells 30,075 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Investment Management Associates Inc. ADV decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 546,414 shares of the oil and gas producer's stock after selling 30,075 shares during the period. Enterprise Products Partners comprises approximately 6.2% of Investment Management Associates Inc. ADV's holdings, making the stock its 8th biggest holding. Investment Management Associates Inc. ADV's holdings in Enterprise Products Partners were worth $15,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blackstone Inc. grew its stake in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock worth $470,091,000 after buying an additional 741,237 shares during the period. Energy Income Partners LLC raised its stake in shares of Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer's stock valued at $455,761,000 after acquiring an additional 142,689 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock valued at $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its position in shares of Enterprise Products Partners by 1.6% during the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer's stock worth $159,901,000 after purchasing an additional 87,930 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. 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. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One investment 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 company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $34.00.

Enterprise Products Partners Trading Down 0.5 %

NYSE EPD traded down $0.15 on Tuesday, hitting $30.42. 2,547,404 shares of the company were exchanged, compared to its average volume of 4,296,420. The firm has a market capitalization of $66.02 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company's 50 day moving average price is $29.31 and its 200-day moving average price is $29.00. Enterprise Products Partners L.P. has a twelve month low of $25.90 and a twelve month high of $30.68.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.90%. Enterprise Products Partners's payout ratio is currently 78.65%.

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.