Resonant Capital Advisors LLC Has $233,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Resonant Capital Advisors LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 38.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,000 shares of the oil and gas producer’s stock after selling 5,000 shares during the period. Resonant Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. raised its stake in Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares during the period. Cadence Bank lifted its holdings in shares of Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares in the last quarter. McAdam LLC grew its position in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares during the period. Ellenbecker Investment Group increased its stake in Enterprise Products Partners by 1.5% during the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after purchasing an additional 374 shares in the last quarter. Finally, Advisor OS LLC raised its holdings in Enterprise Products Partners by 1.3% during the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after buying an additional 379 shares during the period. 26.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target 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. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $28.99 on Tuesday. The firm’s fifty day moving average price is $29.23 and its two-hundred day moving average price is $28.96. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm has a market capitalization of $62.95 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. 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) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 7.24%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 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.