CFM Wealth Partners LLC Cuts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

CFM Wealth Partners LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 11.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,250 shares of the oil and gas producer’s stock after selling 20,736 shares during the quarter. CFM Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $4,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Enterprise Products Partners by 9.9% in the 1st quarter. CWM LLC now owns 47,820 shares of the oil and gas producer’s stock worth $1,395,000 after buying an additional 4,307 shares during the last quarter. Welch Group LLC boosted its holdings in shares of Enterprise Products Partners by 25.8% in the 1st quarter. Welch Group LLC now owns 12,863 shares of the oil and gas producer’s stock worth $375,000 after buying an additional 2,637 shares during the last quarter. Grandview Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 3.7% in the 1st quarter. Grandview Asset Management LLC now owns 13,340 shares of the oil and gas producer’s stock worth $389,000 after buying an additional 478 shares during the last quarter. American National Bank boosted its holdings in shares of Enterprise Products Partners by 1,005.2% in the 1st quarter. American National Bank now owns 20,469 shares of the oil and gas producer’s stock worth $597,000 after buying an additional 18,617 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth about $951,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EPD shares. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut 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, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average price target of $33.50.

Enterprise Products Partners Stock Down 1.1 %

EPD stock opened at $29.16 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $29.20 and its 200 day moving average is $28.97. The stock has a market cap of $63.31 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

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.