Enterprise Products Partners L.P. $EPD Stock: Teamwork Financial Advisors LLC Cuts Position

Teamwork Financial Advisors LLC decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 18.3% during the 3rd quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in EPD. N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners during the second quarter worth about $37,000. Bravera Wealth lifted its position in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after purchasing an additional 900 shares during the period. Markowski Investments purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $46,000. BOK Financial Private Wealth Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $48,000. Finally, West Paces Advisors Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth approximately $55,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. TD Cowen reissued a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Morgan Stanley restated an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Stifel Nicolaus began coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Capital One Financial assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $40.12.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded down $0.02 during mid-day trading on Monday, reaching $36.80. The company had a trading volume of 3,781,776 shares, compared to its average volume of 3,891,319. Enterprise Products Partners L.P. has a 1 year low of $30.02 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company 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. The stock’s 50-day simple moving average is $37.85 and its 200-day simple moving average is $37.81.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. On average, equities analysts predict that Enterprise Products Partners L.P. will post 3.02 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

Enterprise Products Partners Company Profile

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.