Shoker Investment Counsel Inc. Sells 2,012 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Shoker Investment Counsel Inc. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 132,027 shares of the oil and gas producer’s stock after selling 2,012 shares during the period. Enterprise Products Partners makes up 1.3% of Shoker Investment Counsel Inc.’s holdings, making the stock its 19th biggest holding. Shoker Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $3,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in EPD. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners during the second quarter worth $29,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. MFA Wealth Advisors LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Finally, Denver PWM LLC bought a new position in Enterprise Products Partners in the second quarter worth approximately $48,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $30.42 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The firm has a market cap of $66.02 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.33 and a beta of 1.04. Enterprise Products Partners L.P. has a 52-week low of $25.88 and a 52-week high of $30.45. The business’s fifty day moving average is $29.28 and its 200 day moving average is $28.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results 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 10.32% and a return on equity of 20.39%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the business earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.90%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Truist Financial boosted 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 report on Wednesday, July 31st. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $34.00.

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.