Kayne Anderson Capital Advisors LP Sells 109,870 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Kayne Anderson Capital Advisors LP decreased its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,641,147 shares of the oil and gas producer's stock after selling 109,870 shares during the quarter. Enterprise Products Partners accounts for approximately 8.6% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 3rd largest position. Kayne Anderson Capital Advisors LP owned about 0.54% of Enterprise Products Partners worth $338,874,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in EPD. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $2,628,000. O Shaughnessy Asset Management LLC raised its stake in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer's stock valued at $685,000 after acquiring an additional 3,770 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Enterprise Products Partners by 5.8% in the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer's stock valued at $13,895,000 after purchasing an additional 26,136 shares during the period. Sanders Morris Harris LLC grew its stake in Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer's stock worth $20,546,000 after purchasing an additional 154,822 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its holdings in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer's stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded up $0.24 during trading hours on Monday, reaching $31.33. The stock had a trading volume of 1,395,932 shares, compared to its average volume of 4,295,522. The firm has a 50-day moving average of $29.44 and a 200-day moving average of $29.07. The firm has a market cap of $67.91 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.60 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $31.48.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the company posted $0.60 earnings per share. Enterprise Products Partners's revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.70%. Enterprise Products Partners's payout ratio is 78.65%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EPD. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. 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. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. One equities 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. Based on data from MarketBeat, Enterprise Products Partners 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.