Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Platform Technology Partners

Platform Technology Partners decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,729 shares of the oil and gas producer’s stock after selling 2,076 shares during the quarter. Platform Technology Partners’ holdings in Enterprise Products Partners were worth $720,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EPD. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the second quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its position 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 worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. grew its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd 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 during the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners during the third quarter valued at approximately $36,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $30.57 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12 month low of $25.90 and a 12 month high of $30.68. The company’s fifty day moving average is $29.31 and its 200-day moving average is $29.00. The firm has a market cap of $66.34 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during 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%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.87%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EPD shares. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America initiated 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 objective for the company. 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. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have assigned 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.