Perissos Private Wealth Management LLC Sells 1,234 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Perissos Private Wealth Management LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,961 shares of the oil and gas producer’s stock after selling 1,234 shares during the quarter. Perissos Private Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EPD. JRM Investment Counsel LLC lifted its holdings in shares of Enterprise Products Partners by 2.1% in the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after acquiring an additional 10,404 shares during the last quarter. Linscomb & Williams Inc. raised its position in Enterprise Products Partners by 16.6% during the fourth quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock valued at $5,399,000 after purchasing an additional 29,112 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $314,000. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Enterprise Products Partners by 37.5% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after purchasing an additional 240,300 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

EPD opened at $29.62 on Monday. The firm has a market capitalization of $64.32 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The business’s 50-day moving average is $29.20 and its two-hundred day moving average is $28.84. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. Research 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial lifted their price target 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. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.08.

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.