Oxbow Advisors LLC Sells 16,320 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Oxbow Advisors LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 1,361,271 shares of the oil and gas producer’s stock after selling 16,320 shares during the period. Enterprise Products Partners accounts for approximately 3.9% of Oxbow Advisors LLC’s holdings, making the stock its 5th largest holding. Oxbow Advisors LLC’s holdings in Enterprise Products Partners were worth $39,627,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC increased its stake in shares of 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 worth $219,000 after buying an additional 350 shares during the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares during the last quarter. Cadence Bank increased its stake in Enterprise Products Partners by 0.7% during the first 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 during the last quarter. McAdam LLC increased its stake 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 valued at $831,000 after purchasing an additional 372 shares during the last quarter. Finally, Ellenbecker Investment Group increased its stake in Enterprise Products Partners by 1.5% during the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after purchasing an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EPD. Bank of America began 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 for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded up $0.17 during midday trading 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 company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average price is $29.28 and its 200-day moving average price is $28.99. Enterprise Products Partners L.P. has a 12 month low of $25.88 and a 12 month high of $30.45. The company has a market capitalization of $66.02 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for 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%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.90%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

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.