Creative Planning Sells 43,842 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Creative Planning trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 779,505 shares of the oil and gas producer's stock after selling 43,842 shares during the quarter. Creative Planning's holdings in Enterprise Products Partners were worth $22,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Stephens Consulting LLC bought a new position in Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Ratings Changes

EPD has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday. They set a "buy" rating and a $35.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $33.73.

Enterprise Products Partners Trading Down 0.7 %

Shares of NYSE:EPD traded down $0.19 during trading on Monday, reaching $28.99. The stock had a trading volume of 3,921,267 shares, compared to its average volume of 4,299,667. The stock has a market cap of $62.95 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The firm's fifty day moving average is $29.23 and its 200 day moving average is $28.96.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. The business's revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 82.35%.

Enterprise Products Partners 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.