Enterprise Products Partners L.P. $EPD Stock Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lessened its position in Enterprise Products Partners L.P. (NYSE:EPD) by 18.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,103 shares of the oil and gas producer’s stock after selling 17,286 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $2,746,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of EPD. Energy Income Partners LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $508,461,000. Bank of America Corp DE acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $416,553,000. BlackRock Inc. purchased a new stake in Enterprise Products Partners during the second quarter worth about $255,325,000. Berkley W R Corp purchased a new stake in Enterprise Products Partners during the second quarter worth about $250,887,000. Finally, Miller Howard Investments Inc. NY lifted its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Miller Howard Investments Inc. NY now owns 3,160,206 shares of the oil and gas producer’s stock worth $119,582,000 after purchasing an additional 48,087 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.1%

Shares of EPD stock traded down $0.02 during trading hours on Monday, reaching $36.80. 3,781,776 shares of the stock were exchanged, compared to its average volume of 3,891,319. The business’s fifty day moving average is $37.85 and its two-hundred day moving average is $37.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. Enterprise Products Partners L.P. has a 12-month low of $30.02 and a 12-month high of $40.17. The firm has a market capitalization of $79.46 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.34 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue was up 60.8% compared to the same quarter last year. As a group, research analysts expect that Enterprise Products Partners L.P. will post 3.02 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective for the company. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Weiss Ratings upgraded shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.12.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.