Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Inscription Capital LLC

Inscription Capital LLC lowered its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 569,357 shares of the oil and gas producer’s stock after selling 24,867 shares during the quarter. Enterprise Products Partners accounts for approximately 2.5% of Inscription Capital LLC’s portfolio, making the stock its 7th biggest holding. Inscription Capital LLC’s holdings in Enterprise Products Partners were worth $16,574,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock remained flat at $29.05 during mid-day trading on Monday. 343,914 shares of the company’s stock traded hands, compared to its average volume of 4,263,148. 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 L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The stock has a market capitalization of $63.05 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.32 and a beta of 1.03. The stock’s 50 day moving average is $29.24 and its two-hundred day moving average is $28.94.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. Enterprise Products Partners’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com cut 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 shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, ten 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 an average target price of $33.73.

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.