Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Violich Capital Management Inc.

Violich Capital Management Inc. boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,550 shares of the oil and gas producer’s stock after buying an additional 600 shares during the quarter. Violich Capital Management Inc.’s holdings in Enterprise Products Partners were worth $540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. boosted its stake in Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares in the last quarter. Cadence Bank boosted its stake in Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after buying an additional 365 shares in the last quarter. McAdam LLC grew its holdings in Enterprise Products Partners by 1.3% during the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares during the period. Ellenbecker Investment Group raised its position in Enterprise Products Partners by 1.5% in the third quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after acquiring an additional 374 shares in the last quarter. Finally, Advisor OS LLC lifted its holdings in Enterprise Products Partners by 1.3% in the 2nd quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after acquiring an additional 379 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Royal Bank of Canada boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Bank of America began coverage on Enterprise Products Partners in a report on Thursday. They set a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Price Performance

Shares of EPD opened at $29.18 on Monday. The company has a market capitalization of $63.37 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The business’s 50-day moving average is $29.21 and its 200-day moving average is $28.96. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

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.