Icon Wealth Advisors LLC Reduces Position in Enterprise Products Partners L.P. (NYSE:EPD)

Icon Wealth Advisors LLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 579,799 shares of the oil and gas producer’s stock after selling 5,918 shares during the period. Enterprise Products Partners comprises 1.4% of Icon Wealth Advisors LLC’s portfolio, making the stock its 16th largest position. Icon Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $16,878,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. boosted its holdings in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares during the period. FMR LLC boosted its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the period. Chickasaw Capital Management LLC grew its position in shares of Enterprise Products Partners by 1.6% during the 2nd 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 buying an additional 87,930 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in Enterprise Products Partners by 9.0% during the second quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock worth $156,608,000 after acquiring an additional 447,768 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE EPD opened at $33.65 on Friday. Enterprise Products Partners L.P. has a 1 year low of $25.96 and a 1 year high of $33.85. The business’s fifty day moving average is $30.01 and its two-hundred day moving average is $29.31. The stock has a market capitalization of $72.94 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.74 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

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

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.24%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EPD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target 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.