Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 39.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,847 shares of the oil and gas producer’s stock after selling 2,552 shares during the quarter. SG Americas Securities LLC’s holdings in Enterprise Products Partners were worth $112,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Blackstone Inc. boosted its holdings in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after acquiring an additional 741,237 shares during the period. Energy Income Partners LLC boosted its holdings in shares of Enterprise Products Partners by 0.9% during the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after acquiring an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enterprise Products Partners by 2.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after acquiring an additional 284,772 shares during the period. Finally, Chickasaw Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 1.6% during the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after acquiring an additional 87,930 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several research analyst reports. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Price Performance

NYSE EPD opened at $29.05 on Friday. The stock’s 50-day moving average price is $29.24 and its two-hundred day moving average price is $28.95. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a market cap of $63.05 billion, a PE ratio of 11.09, a PEG ratio of 1.32 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed 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 is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.23%. Enterprise Products Partners’s payout ratio is presently 80.15%.

About Enterprise Products Partners

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.