First Horizon Advisors Inc. Sells 2,601 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

First Horizon Advisors Inc. lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,232 shares of the oil and gas producer’s stock after selling 2,601 shares during the period. First Horizon Advisors Inc.’s holdings in Enterprise Products Partners were worth $560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at approximately $212,000. O Shaughnessy Asset Management LLC grew its holdings 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 valued at $685,000 after purchasing an additional 3,770 shares in the last quarter. Natixis increased its position in Enterprise Products Partners by 144.9% in the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after purchasing an additional 44,300 shares during the last quarter. Freestone Capital Holdings LLC purchased a new stake in Enterprise Products Partners during the first quarter valued at $252,000. Finally, Truvestments Capital LLC lifted its position in Enterprise Products Partners by 28.6% during the first quarter. Truvestments Capital LLC now owns 2,186 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.7 %

NYSE EPD opened at $32.34 on Friday. The stock has a market cap of $70.09 billion, a PE ratio of 12.11, a PEG ratio of 1.63 and a beta of 1.04. The company’s 50-day moving average price is $29.66 and its 200-day moving average price is $29.16. Enterprise Products Partners L.P. has a 12 month low of $25.96 and a 12 month high of $32.56. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. 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 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. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $34.00.

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.