Icon Wealth Advisors LLC Sells 584,836 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Icon Wealth Advisors LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 99.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 881 shares of the oil and gas producer’s stock after selling 584,836 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EPD. O Shaughnessy Asset Management LLC grew 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 worth $685,000 after purchasing an additional 3,770 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Enterprise Products Partners by 1.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock worth $5,986,000 after buying an additional 2,679 shares during the last quarter. Adalta Capital Management LLC increased its stake in shares of Enterprise Products Partners by 3.3% during the first quarter. Adalta Capital Management LLC now owns 15,050 shares of the oil and gas producer’s stock valued at $439,000 after buying an additional 475 shares during the period. Beacon Capital Management LLC raised its holdings in shares of Enterprise Products Partners by 944.9% during the first quarter. Beacon Capital Management LLC now owns 2,654 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its stake in Enterprise Products Partners by 8.8% in the first quarter. Jaffetilchin Investment Partners LLC now owns 16,749 shares of the oil and gas producer’s stock worth $489,000 after acquiring an additional 1,358 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $32.34 on Tuesday. The stock has a market cap of $70.10 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.69 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 1 year low of $25.96 and a 1 year high of $33.22. The firm’s 50-day moving average is $29.77 and its 200 day moving average is $29.22.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

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.