Heronetta Management L.P. Reduces Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Heronetta Management L.P. trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 558,648 shares of the oil and gas producer’s stock after selling 15,400 shares during the quarter. Enterprise Products Partners accounts for 11.1% of Heronetta Management L.P.’s portfolio, making the stock its largest holding. Heronetta Management L.P.’s holdings in Enterprise Products Partners were worth $16,262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. increased its position in 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 acquiring an additional 1,000 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $37,000. Finally, Denver PWM LLC bought a new position in Enterprise Products Partners in the second quarter valued at about $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

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

Enterprise Products Partners Stock Up 1.0 %

NYSE:EPD opened at $30.27 on Friday. The stock has a 50-day simple moving average of $29.24 and a 200 day simple moving average of $28.97. Enterprise Products Partners L.P. has a 52-week low of $25.88 and a 52-week high of $30.40. The company has a market cap of $65.68 billion, a PE ratio of 11.34, a PEG ratio of 1.33 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued 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). The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. During the same period in the prior year, the business earned $0.60 earnings per share. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.94%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Enterprise Products Partners 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.