Wesbanco Bank Inc. Lowers Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Wesbanco Bank Inc. lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,616 shares of the oil and gas producer’s stock after selling 452 shares during the quarter. Wesbanco Bank Inc.’s holdings in Enterprise Products Partners were worth $1,008,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of EPD. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Stephens Consulting LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC acquired a new position in Enterprise Products Partners during the first quarter worth $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the second quarter valued at $29,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD stock opened at $29.16 on Wednesday. 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. The firm has a market capitalization of $63.31 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The business has a 50 day simple moving average of $29.20 and a 200-day simple moving average of $28.97.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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 company had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period last year, the business earned $0.57 earnings per share. The firm’s revenue was up 26.6% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial raised 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. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.50.

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.