Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,390 shares of the oil and gas producer’s stock after selling 1,158 shares during the period. QRG Capital Management Inc.’s holdings in Enterprise Products Partners were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its stake in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares during the last quarter. Sanders Morris Harris LLC grew its position in shares of Enterprise Products Partners by 28.1% during the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after acquiring an additional 154,822 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Nwam LLC raised its position in Enterprise Products Partners by 25.1% in the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after purchasing an additional 4,184 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its stake in Enterprise Products Partners by 5.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,937,043 shares of the oil and gas producer’s stock worth $56,116,000 after purchasing an additional 96,427 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $30.57 on Tuesday. The stock has a fifty day moving average price of $29.28 and a 200 day moving average price of $28.99. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The stock has a market cap of $66.34 billion, a PE ratio of 11.45, a P/E/G ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.90 and a 1 year high of $30.68.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.87%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. 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. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report 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 report on Monday, August 12th. One research 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, the company presently has a consensus rating of “Buy” and an average price target 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.