Stock Yards Bank & Trust Co. Trims Position in Enterprise Products Partners L.P. (NYSE:EPD)

Stock Yards Bank & Trust Co. cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,344 shares of the oil and gas producer’s stock after selling 1,650 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Enterprise Products Partners were worth $1,662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Burkett Financial Services LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter worth $28,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter worth $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $29,000. Finally, Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth about $29,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.6 %

Shares of NYSE EPD opened at $29.51 on Wednesday. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $29.21 and its two-hundred day simple moving average is $28.87. The stock has a market capitalization of $64.08 billion, a P/E ratio of 11.57, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.525 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, July 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.12%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.08.

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.