Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Boosted by Everett Harris & Co. CA

Everett Harris & Co. CA grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,939 shares of the oil and gas producer’s stock after buying an additional 7,050 shares during the quarter. Everett Harris & Co. CA’s holdings in Enterprise Products Partners were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EPD. Commonwealth Equity Services LLC raised its holdings in Enterprise Products Partners by 3.2% during the third quarter. Commonwealth Equity Services LLC now owns 1,064,093 shares of the oil and gas producer’s stock worth $30,976,000 after purchasing an additional 33,228 shares in the last quarter. Blue Trust Inc. boosted its stake in Enterprise Products Partners by 5.9% during the third quarter. Blue Trust Inc. now owns 79,703 shares of the oil and gas producer’s stock valued at $2,310,000 after buying an additional 4,473 shares in the last quarter. Stratos Wealth Advisors LLC grew its holdings in Enterprise Products Partners by 3.9% during the third quarter. Stratos Wealth Advisors LLC now owns 18,602 shares of the oil and gas producer’s stock worth $542,000 after acquiring an additional 692 shares during the period. Stonegate Investment Group LLC raised its position in Enterprise Products Partners by 9.3% in the third quarter. Stonegate Investment Group LLC now owns 12,481 shares of the oil and gas producer’s stock worth $363,000 after acquiring an additional 1,058 shares in the last quarter. Finally, Ellenbecker Investment Group lifted its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after acquiring an additional 374 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EPD. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday. They set a “buy” rating and a $35.00 price objective for the company. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Price Performance

EPD opened at $29.18 on Friday. The firm has a market capitalization of $63.37 billion, a P/E ratio of 11.44, a PEG ratio of 1.49 and a beta of 1.03. The stock has a fifty day moving average of $29.21 and a 200-day moving average of $28.97. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05.

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

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) 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.