Enterprise Products Partners L.P. $EPD Stock: Oppenheimer & Co. Inc. Raises Holdings

Oppenheimer & Co. Inc. lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 455,801 shares of the oil and gas producer’s stock after buying an additional 38,279 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enterprise Products Partners were worth $16,231,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Park Avenue Securities LLC boosted its position in shares of Enterprise Products Partners by 10.6% during the 3rd quarter. Park Avenue Securities LLC now owns 32,717 shares of the oil and gas producer’s stock valued at $1,165,000 after purchasing an additional 3,129 shares in the last quarter. Insight Wealth Partners LLC grew its stake in Enterprise Products Partners by 9.2% during the third quarter. Insight Wealth Partners LLC now owns 8,895 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 750 shares during the period. Verdence Capital Advisors LLC increased its holdings in Enterprise Products Partners by 5.8% in the third quarter. Verdence Capital Advisors LLC now owns 16,308 shares of the oil and gas producer’s stock worth $581,000 after purchasing an additional 887 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in Enterprise Products Partners by 4.1% in the third quarter. Miller Howard Investments Inc. NY now owns 3,344,118 shares of the oil and gas producer’s stock worth $119,084,000 after purchasing an additional 132,227 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Enterprise Products Partners by 15.1% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,801,500 shares of the oil and gas producer’s stock worth $64,151,000 after purchasing an additional 236,000 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $36.98 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock has a 50-day moving average of $37.73 and a 200-day moving average of $37.11. The company has a market cap of $79.87 billion, a PE ratio of 12.84, a P/E/G ratio of 1.32 and a beta of 0.50. Enterprise Products Partners L.P. has a one year low of $30.02 and a one year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The business had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue was up 60.8% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 3.10 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 77.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EPD shares. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Melius Research began coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set a “hold” rating and a $42.00 price target on the stock. Capital One Financial initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, TD Cowen reiterated a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Hold” and an average price target of $40.12.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.