Evermay Wealth Management LLC Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Evermay Wealth Management LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,614 shares of the oil and gas producer’s stock after selling 1,236 shares during the period. Evermay Wealth Management LLC’s holdings in Enterprise Products Partners were worth $717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC increased its position in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the period. Mutual Advisors LLC increased its holdings in shares of Enterprise Products Partners by 1.0% in the 3rd quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock valued at $5,414,000 after acquiring an additional 1,935 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Enterprise Products Partners by 1.6% in the 3rd quarter. Fidelis Capital Partners LLC now owns 37,374 shares of the oil and gas producer’s stock valued at $1,083,000 after acquiring an additional 598 shares during the period. Tyche Wealth Partners LLC boosted its stake in Enterprise Products Partners by 1.3% during the 3rd quarter. Tyche Wealth Partners LLC now owns 31,219 shares of the oil and gas producer’s stock worth $909,000 after purchasing an additional 407 shares during the period. Finally, Cutter & CO Brokerage Inc. grew its position in Enterprise Products Partners by 2.7% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 659,484 shares of the oil and gas producer’s stock worth $19,198,000 after purchasing an additional 17,217 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded up $0.23 during mid-day trading on Wednesday, hitting $29.33. The company had a trading volume of 890,850 shares, compared to its average volume of 4,268,938. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a market cap of $63.65 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 1.32 and a beta of 1.03. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The firm’s 50 day simple moving average is $29.24 and its two-hundred day simple moving average is $28.94.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.16%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 80.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EPD shares. 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 target price for the company. Royal Bank of Canada raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their target price 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. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $33.73.

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.