Prime Capital Investment Advisors LLC Reduces Position in Enterprise Products Partners L.P. (NYSE:EPD)

Prime Capital Investment Advisors LLC reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,591 shares of the oil and gas producer’s stock after selling 726 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. raised its holdings in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of several research analyst reports. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $31.09 on Friday. The business has a 50 day simple moving average of $29.39 and a 200-day simple moving average of $29.03. Enterprise Products Partners L.P. has a 12 month low of $25.95 and a 12 month high of $31.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. The stock has a market capitalization of $67.39 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. Equities analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

About Enterprise Products Partners

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.