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

Evermay Wealth Management LLC trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,614 shares of the oil and gas producer’s stock after selling 1,236 shares during the period. Evermay Wealth Management LLC’s holdings in Enterprise Products Partners were worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its position in Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Blackstone Inc. grew its position in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Reaves W H & Co. Inc. increased its stake in Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after purchasing an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares during the period. Finally, Berkley W R Corp grew its holdings in shares of Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after buying an additional 1,000,000 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several research analyst reports. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada lifted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Up 0.8 %

EPD stock traded up $0.23 during midday trading on Wednesday, hitting $29.33. The company’s stock had a trading volume of 890,850 shares, compared to its average volume of 4,268,938. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The firm has a 50-day simple moving average of $29.24 and a 200-day simple moving average of $28.94. 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 capitalization of $63.65 billion, a P/E ratio of 11.11, a PEG ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.16%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

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.