Beaumont Financial Advisors LLC Sells 38,700 Shares of Enterprise Products Partners L.P. (NYSE:EPD)
Beaumont Financial Advisors LLC has reduced its stake in Enterprise Products Partners L.P. (NYSE: EPD) by 73.1%, selling 38,700 shares in the third quarter, leaving it with 14,262 shares. Other investors, including Blackstone Inc. and Tortoise Capital Advisors, have increased their holdings. EPD stock opened at $25.46, with a market cap of $56.94 billion. The company recently announced a quarterly dividend of $0.525, yielding 7.13%. Analysts have a consensus rating of "Buy" for EPD, with an average price target of $27.50.
Beaumont Financial Advisors LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 73.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 14,262 shares of the oil and gas producer's stock after selling 38,700 shares during the period. Beaumont Financial Advisors LLC's holdings in Enterprise Products Partners were worth $415,000 at the end of the most recent reporting period.
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Other large investors also recently made changes to their positions in the company. Blackstone Inc. increased its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock valued at $470,091,000 after acquiring an additional 741,237 shares during the last quarter. Energy Income Partners LLC raised its position in shares of Enterprise Products Partners by 0.9% in the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer's stock valued at $455,761,000 after acquiring an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in Enterprise Products Partners by 2.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer's stock worth $326,091,000 after acquiring an additional 284,772 shares during the last quarter. Finally, Chickasaw Capital Management LLC grew its holdings in Enterprise Products Partners by 1.6% during the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer's stock valued at $159,901,000 after purchasing an additional 87,930 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.
Enterprise Products Partners Price Performance
EPD stock opened at $29.46 on Friday. The stock has a market cap of $63.94 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a 50-day moving average price of $29.16 and a two-hundred day moving average price of $28.97. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.
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Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm's quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.
Enterprise Products Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 80.15%.
Wall Street Analysts Forecast Growth
- Refiners, transporters surge: Niche energy markets defy oil slump
Several research firms have weighed in on EPD. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $33.50.
Check Out Our Latest Analysis on Enterprise Products Partners
About Enterprise Products Partners
(Free Report)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.
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