Invenomic Capital Management LP Sells 153,033 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Invenomic Capital Management LP lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 55.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 121,441 shares of the oil and gas producer’s stock after selling 153,033 shares during the quarter. Invenomic Capital Management LP’s holdings in Enterprise Products Partners were worth $3,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Paragon Advisors LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $2,628,000. FMR LLC raised its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Enterprise Products Partners by 37.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock valued at $1,703,000 after acquiring an additional 16,018 shares during the period. Finally, Caprock Group LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth approximately $1,943,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Trading Down 1.5 %

Shares of EPD stock opened at $33.29 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $72.16 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $34.63. The stock’s 50-day moving average price is $30.27 and its 200-day moving average price is $29.43.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) 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 the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date 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.