Oppenheimer & Co. Inc. Has $12.88 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Oppenheimer & Co. Inc. reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 18.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 442,498 shares of the oil and gas producer’s stock after selling 103,430 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enterprise Products Partners were worth $12,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of EPD. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners during the 2nd quarter worth $29,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% in the third 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 during the period. Assetmark Inc. grew its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $36,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded down $0.18 during trading on Wednesday, hitting $30.25. The stock had a trading volume of 592,055 shares, compared to its average volume of 4,277,984. Enterprise Products Partners L.P. has a 1 year low of $25.95 and a 1 year high of $30.68. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average is $29.33 and its two-hundred day moving average is $29.01. The stock has a market cap of $65.57 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.58 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed 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 6.94%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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 report on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.