Penn Davis Mcfarland Inc. Trims Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Penn Davis Mcfarland Inc. cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,199,318 shares of the oil and gas producer’s stock after selling 12,387 shares during the quarter. Enterprise Products Partners makes up about 5.4% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 5th largest position. Penn Davis Mcfarland Inc. owned 0.06% of Enterprise Products Partners worth $34,756,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EPD. Cadence Bank lifted its holdings in Enterprise Products Partners by 0.7% in the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after buying an additional 365 shares during the period. Ellsworth Advisors LLC raised its position in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock worth $636,000 after acquiring an additional 383 shares in the last quarter. Stokes Family Office LLC raised its position in shares of Enterprise Products Partners by 2.5% in the 2nd quarter. Stokes Family Office LLC now owns 16,139 shares of the oil and gas producer’s stock worth $468,000 after acquiring an additional 399 shares in the last quarter. Mosaic Family Wealth Partners LLC raised its position in shares of Enterprise Products Partners by 1.1% in the 1st quarter. Mosaic Family Wealth Partners LLC now owns 36,460 shares of the oil and gas producer’s stock worth $1,064,000 after acquiring an additional 407 shares in the last quarter. Finally, Kozak & Associates Inc. raised its position in shares of Enterprise Products Partners by 9.8% in the 1st quarter. Kozak & Associates Inc. now owns 4,633 shares of the oil and gas producer’s stock worth $133,000 after acquiring an additional 412 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EPD shares. JPMorgan Chase & Co. reduced their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Morgan Stanley reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.26 during trading hours on Monday, hitting $29.43. The stock had a trading volume of 1,478,226 shares, compared to its average volume of 4,629,311. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The stock’s 50-day moving average price is $29.01 and its two-hundred day moving average price is $28.52. The stock has a market capitalization of $63.91 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.18%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.525 per share. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.14%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

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.