Private Trust Co. NA Sells 5,375 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Private Trust Co. NA trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,667 shares of the oil and gas producer’s stock after selling 5,375 shares during the period. Private Trust Co. NA’s holdings in Enterprise Products Partners were worth $485,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Curi RMB Capital LLC grew its holdings in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares during the last quarter. Tranquility Partners LLC boosted its position in Enterprise Products Partners by 1.5% in the third 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 in the last quarter. Princeton Global Asset Management LLC grew its stake in Enterprise Products Partners by 4.9% during the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after buying an additional 350 shares during the last quarter. Strategic Wealth Partners Ltd. increased its holdings in shares of Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 353 shares in the last quarter. Finally, McAdam LLC raised its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after acquiring an additional 372 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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. Finally, 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. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 2.4 %

Shares of NYSE:EPD opened at $33.66 on Thursday. The company has a 50 day moving average of $29.92 and a 200-day moving average of $29.28. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $33.85. The stock has a market cap of $72.95 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.67 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.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 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 analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

About Enterprise Products Partners

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.