Narwhal Capital Management Sells 14,400 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Narwhal Capital Management reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 35.5% during the third quarter, Holdings Channel.com reports. The firm owned 26,200 shares of the oil and gas producer’s stock after selling 14,400 shares during the quarter. Narwhal Capital Management’s holdings in Enterprise Products Partners were worth $763,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC increased its position in Enterprise Products Partners by 3.8% in the third quarter. Private Advisor Group LLC now owns 377,263 shares of the oil and gas producer’s stock worth $10,982,000 after buying an additional 13,890 shares in the last quarter. Symphony Financial Ltd. Co. purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $201,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in Enterprise Products Partners by 16.4% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 2,045,599 shares of the oil and gas producer’s stock worth $59,547,000 after acquiring an additional 288,420 shares during the period. Eastern Bank purchased a new position in Enterprise Products Partners during the third quarter valued at approximately $63,000. Finally, Magnolia Capital Management Ltd. boosted its position in shares of Enterprise Products Partners by 15.2% in the third quarter. Magnolia Capital Management Ltd. now owns 13,015 shares of the oil and gas producer’s stock worth $379,000 after purchasing an additional 1,715 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.2 %

Shares of EPD opened at $28.95 on Wednesday. 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 stock has a market capitalization of $62.86 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The business’s 50 day simple moving average is $29.24 and its 200-day simple moving average is $28.95.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (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 analysts’ expectations of $14.23 billion. During the same period in the previous year, the company earned $0.57 EPS. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.26%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analyst Ratings Changes

EPD has been the topic of several recent analyst reports. Truist Financial raised their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $33.73.

About Enterprise Products Partners

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.