Enterprise Products Partners L.P. $EPD Stock: ProShare Advisors LLC Trims Stake

ProShare Advisors LLC cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.7% during the third quarter, Holdings Channel reports. The fund owned 115,284 shares of the oil and gas producer’s stock after selling 16,804 shares during the quarter. ProShare Advisors LLC’s holdings in Enterprise Products Partners were worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Energy Income Partners LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at $508,461,000. Bank of America Corp DE acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $416,553,000. BlackRock Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $255,325,000. Berkley W R Corp bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $250,887,000. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Enterprise Products Partners by 4.1% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,344,118 shares of the oil and gas producer’s stock worth $119,084,000 after buying an additional 132,227 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. Wall Street Zen cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Capital One Financial initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 target price on the stock. Truist Financial increased their target price on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Friday, October 30th. Finally, TD Cowen reissued a “hold” rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and a consensus price target of $40.18.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $36.64 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12 month low of $30.62 and a 12 month high of $40.17. The firm’s 50 day moving average is $37.56 and its 200-day moving average is $37.34. The stock has a market capitalization of $79.12 billion, a PE ratio of 12.16, a P/E/G ratio of 1.37 and a beta of 0.48.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $17.95 billion for the quarter, compared to the consensus estimate of $14.98 billion. Enterprise Products Partners had a return on equity of 21.50% and a net margin of 10.24%. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 3.12 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 74.17%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.