Linscomb Wealth Inc. Sells 1,773 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Linscomb Wealth Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,425 shares of the oil and gas producer’s stock after selling 1,773 shares during the quarter. Linscomb Wealth Inc.’s holdings in Enterprise Products Partners were worth $5,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter valued at about $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% in 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 period. Assetmark Inc. grew its stake in 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 valued at $35,000 after buying an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Enterprise Products Partners during the third quarter worth $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 1.2 %

Shares of NYSE EPD traded up $0.36 during trading hours on Friday, hitting $31.17. The company’s stock had a trading volume of 1,022,887 shares, compared to its average volume of 4,288,253. Enterprise Products Partners L.P. has a 12 month low of $25.95 and a 12 month high of $31.25. The stock has a market cap of $67.56 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. The business has a 50-day simple moving average of $29.39 and a 200-day simple moving average of $29.03.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EPD. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $34.00.

About Enterprise Products Partners

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.