34,946 Enterprise Products Partners L.P. $EPD Shares Sold by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management reduced its Enterprise Products Partners stake by 34,946 shares, or 0.7%, during the third quarter, but still held 4.76 million shares worth approximately $169.4 million.
• Analyst sentiment is mixed: seven analysts rate EPD a Buy, ten recommend Hold, and one recommends Sell. The consensus rating is Hold, with an average price target of $40.12.
• EPD shares recently traded at $36.91, while the company’s latest quarterly results exceeded expectations, reporting $0.84 in adjusted EPS and $18.27 billion in revenue, up 60.8% year over year.

Hamlin Capital Management LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,757,411 shares of the oil and gas producer's stock after selling 34,946 shares during the quarter. Enterprise Products Partners makes up approximately 4.1% of Hamlin Capital Management LLC's portfolio, making the stock its 11th biggest position. Hamlin Capital Management LLC owned 0.22% of Enterprise Products Partners worth $169,411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Dickmeyer Boyce Financial Management Inc. boosted its stake in shares of Enterprise Products Partners by 6.2% in the 3rd quarter. Dickmeyer Boyce Financial Management Inc. now owns 8,548 shares of the oil and gas producer's stock valued at $304,000 after purchasing an additional 500 shares during the last quarter. Apella Capital LLC boosted its position in Enterprise Products Partners by 4.5% during the third quarter. Apella Capital LLC now owns 42,028 shares of the oil and gas producer's stock valued at $1,551,000 after acquiring an additional 1,798 shares during the last quarter. Everhart Financial Group Inc. boosted its position in Enterprise Products Partners by 155.2% during the third quarter. Everhart Financial Group Inc. now owns 17,285 shares of the oil and gas producer's stock valued at $616,000 after acquiring an additional 10,513 shares during the last quarter. Tactive Advisors LLC grew its holdings in Enterprise Products Partners by 2.2% during the 3rd quarter. Tactive Advisors LLC now owns 24,932 shares of the oil and gas producer's stock worth $888,000 after acquiring an additional 525 shares during the period. Finally, Applied Capital LLC FL raised its position in shares of Enterprise Products Partners by 0.9% in the 3rd quarter. Applied Capital LLC FL now owns 85,199 shares of the oil and gas producer's stock worth $3,034,000 after acquiring an additional 765 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on EPD. The Goldman Sachs Group restated a "neutral" rating and set a $38.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Wall Street Zen lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 3rd. TD Cowen restated a "hold" rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Weiss Ratings lowered shares of Enterprise Products Partners from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of "Hold" and a consensus price target of $40.12.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD remained flat at $36.91 during trading on Thursday. The stock had a trading volume of 1,277,645 shares, compared to its average volume of 3,853,129. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The stock has a fifty day moving average price of $38.12 and a two-hundred day moving average price of $37.94. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a market capitalization of $79.71 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 1.37 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter last year, the firm posted $0.66 EPS. Enterprise Products Partners's revenue was up 60.8% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.02 EPS for the current year.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.

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