ORG Partners LLC Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

ORG Partners LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 93.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,155 shares of the oil and gas producer’s stock after selling 58,286 shares during the quarter. ORG Partners LLC’s holdings in Enterprise Products Partners were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EPD. CWM LLC grew its stake in Enterprise Products Partners by 9.9% in the 1st quarter. CWM LLC now owns 47,820 shares of the oil and gas producer’s stock valued at $1,395,000 after acquiring an additional 4,307 shares during the period. Welch Group LLC increased its stake in shares of Enterprise Products Partners by 25.8% during the first quarter. Welch Group LLC now owns 12,863 shares of the oil and gas producer’s stock worth $375,000 after purchasing an additional 2,637 shares in the last quarter. Grandview Asset Management LLC raised its position in shares of Enterprise Products Partners by 3.7% during the 1st quarter. Grandview Asset Management LLC now owns 13,340 shares of the oil and gas producer’s stock worth $389,000 after purchasing an additional 478 shares during the last quarter. American National Bank lifted its stake in Enterprise Products Partners by 1,005.2% in the 1st quarter. American National Bank now owns 20,469 shares of the oil and gas producer’s stock valued at $597,000 after buying an additional 18,617 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Enterprise Products Partners in the 1st quarter worth about $951,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EPD. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $33.50.

Enterprise Products Partners Trading Down 1.1 %

Shares of EPD stock opened at $29.16 on Wednesday. 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 L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company’s 50-day moving average price is $29.20 and its 200-day moving average price is $28.97. The stock has a market cap of $63.31 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results 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 firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period last year, the company earned $0.57 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

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.