First City Capital Management Inc. Sells 1,073 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

First City Capital Management Inc. reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% during the 3rd quarter, Holdings Channel reports. The fund owned 7,309 shares of the oil and gas producer’s stock after selling 1,073 shares during the quarter. First City Capital Management Inc.’s holdings in Enterprise Products Partners were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BIP Wealth LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $614,000. Tranquility Partners LLC boosted its position in Enterprise Products Partners by 1.5% in the 3rd quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock valued at $675,000 after buying an additional 346 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $1,943,000. WP Advisors LLC lifted its stake in shares of Enterprise Products Partners by 2.7% during the third quarter. WP Advisors LLC now owns 337,549 shares of the oil and gas producer’s stock valued at $9,826,000 after acquiring an additional 8,910 shares during the period. Finally, MAI Capital Management increased its position in Enterprise Products Partners by 2.3% in the third quarter. MAI Capital Management now owns 611,867 shares of the oil and gas producer’s stock worth $17,811,000 after purchasing an additional 13,547 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut 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 report on Monday, October 28th. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One investment 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 company’s stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 1.3 %

Shares of NYSE EPD opened at $31.49 on Tuesday. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $31.54. The stock has a market capitalization of $68.26 billion, a PE ratio of 11.79, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business’s fifty day moving average price is $29.49 and its 200-day moving average price is $29.09.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.67%. 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.