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

Oxbow Advisors LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,361,271 shares of the oil and gas producer’s stock after selling 16,320 shares during the period. Enterprise Products Partners makes up 3.9% of Oxbow Advisors LLC’s holdings, making the stock its 5th biggest holding. Oxbow Advisors LLC owned approximately 0.06% of Enterprise Products Partners worth $39,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares in the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Enterprise Products Partners by 5.8% in the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock valued at $13,895,000 after purchasing an additional 26,136 shares in the last quarter. Sanders Morris Harris LLC grew its holdings in shares of Enterprise Products Partners by 28.1% in the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after purchasing an additional 154,822 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Finally, Nwam LLC grew its holdings in shares of Enterprise Products Partners by 25.1% in the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after purchasing an additional 4,184 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.17 on Friday, hitting $30.42. The company’s stock had a trading volume of 3,121,655 shares, compared to its average volume of 3,980,659. The firm has a 50 day moving average of $29.28 and a two-hundred day moving average of $28.99. Enterprise Products Partners L.P. has a 1 year low of $25.88 and a 1 year high of $30.45. The stock has a market cap of $66.02 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.90%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial lifted their price target 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. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America assumed 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 objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $34.00.

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.