Baldwin Investment Management LLC Trims Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Baldwin Investment Management LLC lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,533 shares of the oil and gas producer’s stock after selling 548 shares during the quarter. Enterprise Products Partners comprises approximately 0.7% of Baldwin Investment Management LLC’s portfolio, making the stock its 16th biggest position. Baldwin Investment Management LLC’s holdings in Enterprise Products Partners were worth $5,779,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Paragon Advisors LLC purchased a new position in Enterprise Products Partners during the 3rd quarter worth $2,628,000. Thrivent Financial for Lutherans raised its holdings in Enterprise Products Partners by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares in the last quarter. Caprock Group LLC acquired a new stake in Enterprise Products Partners in the third quarter valued at about $1,943,000. Atlanta Consulting Group Advisors LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at approximately $670,000. Finally, Empowered Funds LLC increased its position in Enterprise Products Partners by 14.1% during the 3rd quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock worth $5,288,000 after purchasing an additional 22,506 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.86 on Wednesday. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $33.22. The stock has a market cap of $71.23 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The business’s fifty day moving average price is $29.84 and its two-hundred day moving average price is $29.25. 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 (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Truist Financial lifted their price target 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. One equities research 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. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $34.00.

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.