Douglas Lane & Associates LLC Decreases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Douglas Lane & Associates LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,372 shares of the oil and gas producer’s stock after selling 2,196 shares during the period. Douglas Lane & Associates LLC’s holdings in Enterprise Products Partners were worth $418,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EPD. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the second quarter valued at $25,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth about $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners in the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, MFA Wealth Advisors LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $37,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.7 %

Shares of Enterprise Products Partners stock opened at $29.45 on Monday. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The business’s fifty day moving average is $29.16 and its two-hundred day moving average is $28.97. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market cap of $63.95 billion, a PE ratio of 11.55, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released 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). The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.13%. Enterprise Products Partners’s payout ratio is 82.35%.

Wall Street Analyst Weigh In

Several analysts have recently commented on EPD shares. 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 raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.50.

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.