Axxcess Wealth Management LLC Has $408,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Axxcess Wealth Management LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,021 shares of the oil and gas producer’s stock after selling 850 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Enterprise Products Partners were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. XML Financial LLC raised its stake in Enterprise Products Partners by 5.6% in the third quarter. XML Financial LLC now owns 106,481 shares of the oil and gas producer’s stock valued at $3,100,000 after purchasing an additional 5,605 shares in the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Enterprise Products Partners by 12.4% during the third quarter. Carmel Capital Partners LLC now owns 9,286 shares of the oil and gas producer’s stock worth $270,000 after purchasing an additional 1,022 shares during the last quarter. Lindbrook Capital LLC lifted its stake in shares of Enterprise Products Partners by 4.0% in the third quarter. Lindbrook Capital LLC now owns 78,828 shares of the oil and gas producer’s stock worth $2,295,000 after acquiring an additional 3,062 shares during the period. Assetmark Inc. lifted its stake in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Enterprise Products Partners by 21.5% in the third quarter. Verdence Capital Advisors LLC now owns 10,784 shares of the oil and gas producer’s stock worth $314,000 after acquiring an additional 1,910 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $30.40 on Thursday. The stock has a 50 day moving average of $29.33 and a 200 day moving average of $29.01. Enterprise Products Partners L.P. has a 12 month low of $25.95 and a 12 month high of $30.68. The firm has a market cap of $65.88 billion, a PE ratio of 11.38, a PEG ratio of 1.57 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.91%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on EPD. Truist Financial upped their target price 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. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.