Wellington Shields & Co. LLC Sells 3,699 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Wellington Shields & Co. LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 44,170 shares of the oil and gas producer’s stock after selling 3,699 shares during the period. Wellington Shields & Co. LLC’s holdings in Enterprise Products Partners were worth $1,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of EPD. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $25,000. Burkett Financial Services LLC bought a new position in Enterprise Products Partners in the fourth quarter worth $28,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the first quarter worth $29,000. Finally, Mascoma Wealth Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $28.97 on Wednesday. The firm has a market cap of $62.91 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.47 and a beta of 1.03. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The business’s 50-day moving average price is $29.18 and its 200 day moving average price is $28.80. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share 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 20.13%. The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period last year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.25%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analysts Set New Price Targets

A number of analysts recently commented on EPD shares. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial increased their price objective 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, JPMorgan Chase & Co. lowered their price target 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. Two research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

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.