Banco Santander S.A. Sells 21,860 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Banco Santander S.A. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 29.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 52,439 shares of the oil and gas producer’s stock after selling 21,860 shares during the quarter. Banco Santander S.A.’s holdings in Enterprise Products Partners were worth $1,526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paragon Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $2,628,000. Thrivent Financial for Lutherans raised its position in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after acquiring an additional 200,625 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the period. Caprock Group LLC bought a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $1,943,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in Enterprise Products Partners in the third quarter worth $670,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.81 on Friday. The business has a 50-day simple moving average of $29.72 and a two-hundred day simple moving average of $29.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $71.12 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $32.85.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EPD shares. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price target on 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, Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $34.00.

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.