Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 18.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 442,498 shares of the oil and gas producer's stock after selling 103,430 shares during the period. Oppenheimer & Co. Inc.'s holdings in Enterprise Products Partners were worth $12,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. increased its position in 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 purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its position in Enterprise Products Partners by 19,800.0% during the 3rd 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 period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners during the 3rd quarter worth approximately $36,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EPD. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. StockNews.com cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Finally, Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $34.00.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.04 during trading hours on Wednesday, reaching $30.40. 4,871,802 shares of the company traded hands, compared to its average volume of 4,299,047. The firm's 50-day moving average is $29.33 and its 200-day moving average is $29.01. The stock has a market cap of $65.88 billion, a P/E ratio of 11.37, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1-year low of $25.95 and a 1-year high of $30.68.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results 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 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 analysts' expectations of $13.87 billion. During the same period in the prior year, the company earned $0.60 EPS. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is presently 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.