Allen Wealth Management LLC Sells 800 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Allen Wealth Management LLC decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,921 shares of the oil and gas producer’s stock after selling 800 shares during the period. Allen Wealth Management LLC’s holdings in Enterprise Products Partners were worth $842,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EPD. Indie Asset Partners LLC bought a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $229,000. Pure Financial Advisors LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth about $237,000. Private Wealth Partners LLC bought a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $597,000. Clear Creek Financial Management LLC boosted its stake in Enterprise Products Partners by 11.4% during the third quarter. Clear Creek Financial Management LLC now owns 9,136 shares of the oil and gas producer’s stock valued at $266,000 after buying an additional 936 shares during the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in shares of Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, 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. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 0.6 %

Shares of NYSE EPD opened at $28.82 on Friday. 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 firm has a market cap of $62.55 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The firm’s 50 day moving average price is $29.22 and its 200 day moving average price is $28.95. Enterprise Products Partners L.P. has a 1 year low of $25.88 and a 1 year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed 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. This represents a $2.10 annualized dividend and a yield of 7.29%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.