SYSTM Wealth Solutions LLC Cuts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

SYSTM Wealth Solutions LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 38.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,199 shares of the oil and gas producer’s stock after selling 38,170 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Enterprise Products Partners were worth $1,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners in the second quarter worth $25,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $29,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth $29,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of Enterprise Products Partners during the fourth quarter worth $28,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EPD has been the subject of several research reports. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Morgan Stanley lowered their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, June 10th. Finally, Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Stock Down 0.6 %

EPD opened at $29.51 on Wednesday. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company has a fifty day moving average of $29.21 and a two-hundred day moving average of $28.87. The stock has a market capitalization of $64.08 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $14.23 billion. During the same period in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.525 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s payout ratio is presently 82.35%.

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.