Miller Howard Investments Inc. NY Purchases 132,227 Shares of Enterprise Products Partners L.P. $EPD

Miller Howard Investments Inc. NY grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,344,118 shares of the oil and gas producer’s stock after buying an additional 132,227 shares during the period. Enterprise Products Partners accounts for approximately 3.2% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 2nd largest position. Miller Howard Investments Inc. NY’s holdings in Enterprise Products Partners were worth $119,084,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Energy Income Partners LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $508,461,000. Bank of America Corp DE acquired a new stake in Enterprise Products Partners during the second quarter worth $416,553,000. BlackRock Inc. acquired a new stake in Enterprise Products Partners during the second quarter worth $255,325,000. Berkley W R Corp purchased a new stake in Enterprise Products Partners in the second quarter valued at $250,887,000. Finally, Corient Private Wealth LP purchased a new stake in Enterprise Products Partners in the second quarter valued at $99,119,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $36.98 on Tuesday. The firm has a 50 day moving average of $37.73 and a two-hundred day moving average of $37.11. The stock has a market capitalization of $79.87 billion, a PE ratio of 12.84, a P/E/G ratio of 1.32 and a beta of 0.50. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 52 week low of $30.02 and a 52 week high of $40.17.

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

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners’s payout ratio is presently 77.78%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EPD. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Capital One Financial initiated coverage on 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. Stifel Nicolaus began coverage on shares of 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 reaffirmed an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Finally, Melius Research initiated coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a “hold” rating and a $42.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $40.12.

Enterprise Products Partners 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.