Mesirow Financial Investment Management Inc. Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Mesirow Financial Investment Management Inc. trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 445,806 shares of the oil and gas producer’s stock after selling 833 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Enterprise Products Partners were worth $12,977,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EPD. GSA Capital Partners LLP increased its holdings in Enterprise Products Partners by 135.2% in the 1st quarter. GSA Capital Partners LLP now owns 22,030 shares of the oil and gas producer’s stock valued at $643,000 after purchasing an additional 12,663 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Enterprise Products Partners by 18.9% in the first quarter. Empowered Funds LLC now owns 147,763 shares of the oil and gas producer’s stock valued at $4,312,000 after buying an additional 23,478 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $212,000. Concurrent Investment Advisors LLC raised its holdings in shares of Enterprise Products Partners by 1.3% during the 1st quarter. Concurrent Investment Advisors LLC now owns 95,032 shares of the oil and gas producer’s stock valued at $2,773,000 after buying an additional 1,191 shares during the period. Finally, Sei Investments Co. lifted its position in Enterprise Products Partners by 1.1% during the 1st quarter. Sei Investments Co. now owns 1,136,614 shares of the oil and gas producer’s stock worth $33,166,000 after acquiring an additional 11,864 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $30.42 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. Enterprise Products Partners L.P. has a one year low of $25.88 and a one year high of $30.45. The company has a market capitalization of $66.02 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The stock has a fifty day moving average of $29.28 and a 200-day moving average of $28.99.

Enterprise Products Partners (NYSE:EPD) last released 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 during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial boosted 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. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. One investment 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, the company has an average rating of “Buy” and a consensus price target of $34.00.

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.