StoneX Group Inc. Trims Stake in Enterprise Products Partners L.P. (NYSE:EPD)

StoneX Group Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,830 shares of the oil and gas producer’s stock after selling 10,657 shares during the quarter. StoneX Group Inc.’s holdings in Enterprise Products Partners were worth $2,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. raised its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares in the last quarter. Assetmark Inc. raised its position in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the third quarter valued at about $36,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on EPD shares. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.5 %

Enterprise Products Partners stock opened at $32.82 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $32.85. The company has a market cap of $71.14 billion, a PE ratio of 12.29, a PEG ratio of 1.67 and a beta of 1.04. The business’s 50-day simple moving average is $29.72 and its two-hundred day simple moving average is $29.19.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.