Cliftonlarsonallen Wealth Advisors LLC Sells 700 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cliftonlarsonallen Wealth Advisors LLC lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,000 shares of the oil and gas producer’s stock after selling 700 shares during the quarter. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $524,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EPD. Strategic Wealth Partners Ltd. increased its holdings in Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares during the last quarter. Cadence Bank boosted its position in Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after purchasing an additional 365 shares during the period. McAdam LLC increased its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares in the last quarter. Advisor OS LLC increased its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 379 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its position in shares of Enterprise Products Partners by 1.8% in the second quarter. Ellsworth Advisors LLC now owns 21,959 shares of the oil and gas producer’s stock valued at $636,000 after purchasing an additional 383 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $29.16 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a market cap of $63.31 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a 50-day moving average price of $29.20 and a 200-day moving average price of $28.97.

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 return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $33.50.

Enterprise Products Partners Company 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.