First Heartland Consultants Inc. Cuts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

First Heartland Consultants Inc. cut its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 82.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,068 shares of the oil and gas producer's stock after selling 101,718 shares during the period. First Heartland Consultants Inc.'s holdings in Enterprise Products Partners were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Enterprise Products Partners during the 1st quarter worth about $212,000. QRG Capital Management Inc. grew its holdings in Enterprise Products Partners by 8.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,007 shares of the oil and gas producer's stock worth $263,000 after acquiring an additional 677 shares in the last quarter. Eagle Bay Advisors LLC grew its holdings in Enterprise Products Partners by 36.3% during the 1st quarter. Eagle Bay Advisors LLC now owns 5,451 shares of the oil and gas producer's stock worth $159,000 after acquiring an additional 1,451 shares in the last quarter. Delta Investment Management LLC grew its holdings in Enterprise Products Partners by 3.2% during the 1st quarter. Delta Investment Management LLC now owns 286,208 shares of the oil and gas producer's stock worth $8,352,000 after acquiring an additional 8,830 shares in the last quarter. Finally, Nwam LLC grew its holdings in Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer's stock worth $591,000 after acquiring an additional 4,184 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD traded down $0.04 during trading on Wednesday, reaching $30.40. 4,871,802 shares of the company's stock were exchanged, compared to its average volume of 4,299,047. Enterprise Products Partners L.P. has a 1 year low of $25.95 and a 1 year high of $30.68. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. The stock has a market capitalization of $65.88 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company's fifty day simple moving average is $29.33 and its 200-day simple moving average is $29.01.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly 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). 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 business posted $0.60 earnings per share. The business's quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict 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 given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a 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%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EPD shares. Royal Bank of Canada restated an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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 target on the stock. StockNews.com cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. 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 equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average 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.