Cetera Advisor Networks LLC Cuts Position in Enterprise Products Partners L.P. (NYSE:EPD)

Cetera Advisor Networks LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,982 shares of the oil and gas producer’s stock after selling 1,577 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Enterprise Products Partners were worth $1,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mcmillion Capital Management Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth approximately $29,000. TCI Wealth Advisors Inc. lifted its stake in shares of Enterprise Products Partners by 400.0% in the third quarter. TCI Wealth Advisors Inc. now owns 1,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 800 shares in the last quarter. D Orazio & Associates Inc. bought a new position in shares of Enterprise Products Partners in the third quarter worth approximately $30,000. Centersquare Investment Management LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth approximately $34,000. Finally, TRUE Private Wealth Advisors bought a new position in shares of Enterprise Products Partners in the second quarter worth approximately $41,000. Institutional investors and hedge funds own 36.66% of the company’s stock.

EPD has been the topic of several analyst reports. ValuEngine downgraded shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. Scotia Howard Weill initiated coverage on shares of Enterprise Products Partners in a research note on Wednesday, September 4th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $33.50.

Shares of Enterprise Products Partners stock opened at $26.30 on Friday. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 3.03 and a beta of 0.87. The company’s 50 day moving average is $27.30 and its 200 day moving average is $28.53. Enterprise Products Partners L.P. has a twelve month low of $23.33 and a twelve month high of $30.86. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). The company had revenue of $7.96 billion for the quarter, compared to the consensus estimate of $8.97 billion. Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.59%. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Thursday, October 31st were given a dividend of $0.4425 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.77 dividend on an annualized basis and a yield of 6.73%. Enterprise Products Partners’s dividend payout ratio is 91.24%.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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