Eastern Bank Makes New $63,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Eastern Bank purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,150 shares of the oil and gas producer’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter worth $25,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.1 %

Shares of NYSE EPD opened at $29.05 on Friday. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The company has a market cap of $63.08 billion, a PE ratio of 11.39, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $29.25 and a two-hundred day moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com lowered shares of 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners 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.