Steel Grove Capital Advisors LLC Sells 10,475 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Steel Grove Capital Advisors LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 108,779 shares of the oil and gas producer’s stock after selling 10,475 shares during the period. Enterprise Products Partners comprises 0.4% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Steel Grove Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $3,152,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EPD. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter valued at $25,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter valued at about $28,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $29,000. Finally, Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EPD shares. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Truist Financial boosted their price target 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. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Price Performance

Shares of EPD opened at $29.32 on Monday. The business has a 50-day simple moving average of $29.22 and a two-hundred day simple moving average of $28.90. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The stock has a market cap of $63.67 billion, a PE ratio of 11.50, a PEG ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period last year, the firm posted $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were issued a $0.525 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.16%. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Enterprise Products Partners Company 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.