Round Rock Advisors LLC Sells 14,474 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

by · The Markets Daily

Round Rock Advisors LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 32.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,326 shares of the oil and gas producer’s stock after selling 14,474 shares during the quarter. Round Rock Advisors LLC’s holdings in Enterprise Products Partners were worth $883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC grew its stake in Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after acquiring an additional 350 shares during the period. Strategic Wealth Partners Ltd. grew its position in Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares during the period. Cadence Bank increased its stake in Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares in the last quarter. McAdam LLC raised its holdings in Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after buying an additional 372 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its stake in shares of Enterprise Products Partners by 1.5% in the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after buying an additional 374 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Truist Financial raised 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, 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. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average target price of $34.00.

View Our Latest Analysis on EPD

Enterprise Products Partners Trading Up 0.6 %

Shares of EPD stock opened at $30.42 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market cap of $66.02 billion, a P/E ratio of 11.39, a PEG ratio of 1.55 and a beta of 1.04. The company has a 50 day moving average of $29.28 and a 200-day moving average of $28.99. Enterprise Products Partners L.P. has a 12-month low of $25.88 and a 12-month high of $30.45.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders 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 yield of 6.90%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Enterprise Products Partners Company Profile

(Free Report)

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.

See Also