Enterprise Products Partners L.P. (NYSE:EPD) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 579,799 shares of the oil and gas producer’s stock after selling 5,918 shares during the quarter. Enterprise Products Partners comprises about 1.4% of Icon Wealth Advisors LLC’s holdings, making the stock its 16th largest position. Icon Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $16,878,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in Enterprise Products Partners by 0.5% during the third quarter. Rockefeller Capital Management L.P. now owns 1,677,950 shares of the oil and gas producer’s stock worth $48,845,000 after buying an additional 7,728 shares during the period. Pin Oak Investment Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 2.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 148,295 shares of the oil and gas producer’s stock worth $4,316,000 after acquiring an additional 3,010 shares during the period. Financial Counselors Inc. raised its holdings in Enterprise Products Partners by 2.5% during the third quarter. Financial Counselors Inc. now owns 32,787 shares of the oil and gas producer’s stock worth $954,000 after purchasing an additional 815 shares during the last quarter. BBR Partners LLC raised its holdings in Enterprise Products Partners by 82.8% during the third quarter. BBR Partners LLC now owns 44,150 shares of the oil and gas producer’s stock worth $1,285,000 after purchasing an additional 20,000 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Enterprise Products Partners during the third quarter worth $1,625,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 2.4 %

Shares of EPD stock opened at $33.65 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $33.85. The firm’s 50 day moving average price is $30.01 and its two-hundred day moving average price is $29.31. The stock has a market cap of $72.94 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04.

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 for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.24%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Wall Street Analyst Weigh In

Several analysts have issued reports on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. 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 equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Company 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.