Truist Financial Corp Sells 2,399 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Truist Financial Corp decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,033,583 shares of the oil and gas producer’s stock after selling 2,399 shares during the quarter. Truist Financial Corp’s holdings in Enterprise Products Partners were worth $58,933,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $25,000. Stephens Consulting LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Palisade Asset Management LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $29,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $37,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EPD. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley lowered their target price on shares of 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. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.32 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $63.66 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.50 and a beta of 1.03. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The firm’s 50-day moving average price is $29.14 and its two-hundred day moving average price is $28.94.

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

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.16%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 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.