Enterprise Products Partners L.P. (NYSE:EPD) Stake Reduced by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,929 shares of the oil and gas producer's stock after selling 22,534 shares during the quarter. Woodmont Investment Counsel LLC's holdings in Enterprise Products Partners were worth $4,335,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the second quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners in the second quarter valued at about $29,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 1,000.0% during the third 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 in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter worth about $37,000. Finally, Denver PWM LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 1.0 %

Enterprise Products Partners stock traded up $0.30 during midday trading on Thursday, hitting $30.27. The stock had a trading volume of 2,861,034 shares, compared to its average volume of 4,300,045. The business has a fifty day moving average price of $29.24 and a 200 day moving average price of $28.97. Enterprise Products Partners L.P. has a 12 month low of $25.88 and a 12 month high of $30.40. The stock has a market cap of $65.69 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.33 and a beta of 1.04. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate 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 return on equity of 20.39% and a net margin of 10.32%. Enterprise Products Partners's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.94%. Enterprise Products Partners's dividend payout ratio (DPR) is 78.65%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. 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. StockNews.com cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. 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. Finally, Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.