Arcadia Investment Management Corp MI Sells 4,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Arcadia Investment Management Corp MI reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 35.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,141 shares of the oil and gas producer’s stock after selling 4,000 shares during the period. Arcadia Investment Management Corp MI’s holdings in Enterprise Products Partners were worth $208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $29,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth approximately $37,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $28.82 on Friday. The company’s 50 day simple moving average is $29.22 and its two-hundred day simple moving average is $28.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The stock has a market capitalization of $62.55 billion, a PE ratio of 10.79, a P/E/G ratio of 1.31 and a beta of 1.04. 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 posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed 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 7.29%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Analyst Ratings Changes

Several research firms recently 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 report on Wednesday. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $34.00.

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.