Private Advisor Group LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Private Advisor Group LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 377,263 shares of the oil and gas producer’s stock after purchasing an additional 13,890 shares during the period. Private Advisor Group LLC’s holdings in Enterprise Products Partners were worth $10,982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EPD. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners during the second quarter worth about $25,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on EPD. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Up 0.2 %

Shares of NYSE EPD opened at $29.04 on Friday. The firm has a market cap of $63.05 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The firm’s 50 day moving average price is $29.25 and its 200 day moving average price is $28.95.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Enterprise Products Partners Profile

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.