KCM Investment Advisors LLC Has $667,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

KCM Investment Advisors LLC decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,913 shares of the oil and gas producer’s stock after selling 1,259 shares during the quarter. KCM Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $667,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its position in shares of Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in shares of Enterprise Products Partners by 5.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock worth $13,895,000 after purchasing an additional 26,136 shares in the last quarter. Sanders Morris Harris LLC increased its position in shares of Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after purchasing an additional 154,822 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Finally, Nwam LLC increased its position in shares of Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after purchasing an additional 4,184 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $31.09 on Friday. The company has a market capitalization of $67.39 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.57 and a beta of 1.04. The firm’s 50 day simple moving average is $29.44 and its 200 day simple moving average is $29.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a fifty-two week low of $25.95 and a fifty-two week high of $31.33.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Truist Financial increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $34.00.

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.