First Horizon Advisors Inc. Sells 2,601 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

First Horizon Advisors Inc. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 11.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,232 shares of the oil and gas producer’s stock after selling 2,601 shares during the quarter. First Horizon Advisors Inc.’s holdings in Enterprise Products Partners were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Curi RMB Capital LLC boosted its position in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after acquiring an additional 339 shares in the last quarter. Tranquility Partners LLC lifted its stake in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 346 shares during the period. Princeton Global Asset Management LLC lifted 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 valued at $219,000 after purchasing an additional 350 shares during the period. Strategic Wealth Partners Ltd. boosted its position in shares of Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares in the last quarter. Finally, McAdam LLC grew its stake in 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 during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EPD shares. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Truist Financial upped 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 upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Trading Up 1.7 %

Shares of NYSE:EPD opened at $32.34 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 1 year low of $25.96 and a 1 year high of $32.56. The company has a market cap of $70.09 billion, a P/E ratio of 12.11, a PEG ratio of 1.63 and a beta of 1.04. The stock’s fifty day moving average price is $29.66 and its 200-day moving average price is $29.16.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the company posted $0.60 EPS. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.49%. The ex-dividend date was 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.