Woodmont Investment Counsel LLC Decreases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Woodmont Investment Counsel LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 13.1% during the third quarter, Holdings Channel.com reports. The firm owned 148,929 shares of the oil and gas producer’s stock after selling 22,534 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $4,335,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Graypoint LLC bought a new stake in Enterprise Products Partners in the 3rd quarter worth $307,000. Concurrent Investment Advisors LLC grew its holdings in Enterprise Products Partners by 4.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 117,515 shares of the oil and gas producer’s stock worth $3,421,000 after acquiring an additional 4,913 shares during the last quarter. JFG Wealth Management LLC grew its holdings in Enterprise Products Partners by 4.6% in the 3rd quarter. JFG Wealth Management LLC now owns 20,280 shares of the oil and gas producer’s stock worth $590,000 after acquiring an additional 900 shares during the last quarter. NorthRock Partners LLC grew its holdings in Enterprise Products Partners by 9.2% in the 3rd quarter. NorthRock Partners LLC now owns 19,913 shares of the oil and gas producer’s stock worth $580,000 after acquiring an additional 1,679 shares during the last quarter. Finally, Clarity Financial LLC grew its holdings in Enterprise Products Partners by 8.8% in the 3rd quarter. Clarity Financial LLC now owns 10,803 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on EPD. Truist Financial raised 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. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 2.3 %

EPD opened at $29.98 on Thursday. 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 50 day moving average price of $29.24 and a 200-day moving average price of $28.97. Enterprise Products Partners L.P. has a twelve month low of $25.88 and a twelve month high of $30.12. The stock has a market capitalization of $65.07 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 20.39%. The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts forecast 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 announced 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. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.00%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.