Enterprise Products Partners L.P. $EPD Stock Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services cut its EPD stake by 17.9% in the third quarter, selling 186,388 shares and ending the period with 853,525 shares valued at about $30.4 million. Other institutional investors added or initiated positions; institutions owned 26.07% of the units.
• Enterprise Products Partners reported quarterly EPS of $0.75, in line with expectations, while revenue rose 49.3% year over year to $17.95 billion, exceeding analyst estimates.
• The company declared a quarterly distribution of $0.56 per share, equivalent to a 6.1% annualized yield. Analysts’ consensus rating was “Hold,” with an average price target of $40.18.

Kestra Advisory Services LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 17.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 853,525 shares of the oil and gas producer's stock after selling 186,388 shares during the period. Kestra Advisory Services LLC's holdings in Enterprise Products Partners were worth $30,394,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EPD. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Enterprise Products Partners by 15.1% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,801,500 shares of the oil and gas producer's stock valued at $64,151,000 after acquiring an additional 236,000 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $12,866,000. Bank of America Corp DE bought a new stake in Enterprise Products Partners in the second quarter worth approximately $416,553,000. Core Capital Management & Research inc. bought a new stake in Enterprise Products Partners in the second quarter worth approximately $4,393,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth $1,174,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $36.97 on Friday. The firm has a fifty day simple moving average of $37.51 and a 200-day simple moving average of $37.37. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 1-year low of $30.67 and a 1-year high of $40.17. The stock has a market capitalization of $79.74 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.39 and a beta of 0.48.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.75. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.41%. The business had revenue of $17.95 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the business posted $0.61 EPS. Enterprise Products Partners's revenue was up 49.3% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 3.05 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. Enterprise Products Partners's payout ratio is currently 74.17%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They issued a "hold" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, October 8th. Truist Financial boosted their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a "hold" rating in a research report on Friday, October 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Finally, Morgan Stanley reissued an "underweight" rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.18.

Enterprise Products Partners Company Profile

Enterprise Products Partners NYSE: EPD is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.

The company's assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.

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