Assetmark Inc. Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Assetmark Inc. raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 19,800.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194 shares of the oil and gas producer’s stock after purchasing an additional 1,188 shares during the period. Assetmark Inc.’s holdings in Enterprise Products Partners were worth $35,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EPD. O Shaughnessy Asset Management LLC grew its holdings in 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 valued at $685,000 after buying an additional 3,770 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of Enterprise Products Partners by 5.8% in the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock valued at $13,895,000 after acquiring an additional 26,136 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in shares of Enterprise Products Partners by 28.1% during the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after acquiring an additional 154,822 shares during the last quarter. Pathway Financial Advisers LLC increased its position in 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, Chicago Partners Investment Group LLC raised its stake in Enterprise Products Partners by 5.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,937,043 shares of the oil and gas producer’s stock valued at $56,116,000 after purchasing an additional 96,427 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 1.3 %

Shares of NYSE:EPD opened at $31.49 on Tuesday. The stock has a 50-day simple moving average of $29.49 and a 200-day simple moving average of $29.09. The stock has a market capitalization of $68.26 billion, a P/E ratio of 11.79, a PEG ratio of 1.60 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.96 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07.

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 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 for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 dividend yield of 6.67%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial increased 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. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.