Whittier Trust Co. Decreases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Whittier Trust Co. cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,007 shares of the oil and gas producer’s stock after selling 517 shares during the period. Whittier Trust Co.’s holdings in Enterprise Products Partners were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $25,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of 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 valued at $32,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $28.97 on Thursday. 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 L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The company has a market cap of $62.90 billion, a P/E ratio of 11.36, a PEG ratio of 1.49 and a beta of 1.03. The firm’s 50 day moving average price is $29.25 and its 200 day moving average price is $28.95.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.25%. Enterprise Products Partners’s payout ratio is 82.35%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EPD shares. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial increased their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $33.73.

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.