37,930 Enterprise Products Partners L.P. $EPD Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 77.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,664 shares of the oil and gas producer’s stock after buying an additional 37,930 shares during the period. Parallel Advisors LLC’s holdings in Enterprise Products Partners were worth $3,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EPD. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Enterprise Products Partners by 15.1% during 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 valued at $64,151,000 after acquiring an additional 236,000 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Enterprise Products Partners in the second quarter worth $12,866,000. Bank of America Corp DE purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at $416,553,000. Core Capital Management & Research inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $4,393,000. Finally, Tidal Investments LLC raised its stake in Enterprise Products Partners by 95.7% in the 2nd quarter. Tidal Investments LLC now owns 118,324 shares of the oil and gas producer’s stock worth $4,350,000 after acquiring an additional 57,860 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $36.97 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $30.67 and a 12-month high of $40.17. The business’s 50 day moving average is $37.51 and its two-hundred day moving average is $37.37. The company has a market capitalization of $79.74 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.42 and a beta of 0.48.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $17.95 billion for the quarter, compared to analyst estimates of $14.98 billion. Enterprise Products Partners had a return on equity of 21.41% and a net margin of 10.24%. The business’s revenue was up 49.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Analysts expect that Enterprise Products Partners L.P. will post 3.05 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. Investors of record on Friday, October 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners’s payout ratio is presently 74.17%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a report on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective on the stock. Morgan Stanley restated an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. cut their price target on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, TD Cowen reaffirmed a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.18.

Enterprise Products Partners Company Profile

Enterprise Products Partners (NYSE: EPD) is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.

The company’s assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.