Turtle Creek Wealth Advisors LLC Purchases 2,515 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Turtle Creek Wealth Advisors LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,470 shares of the oil and gas producer’s stock after acquiring an additional 2,515 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of EPD. Pathway Financial Advisers LLC boosted its holdings in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Blackstone Inc. raised its stake in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the period. Berkley W R Corp raised its position in Enterprise Products Partners by 24.5% in the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after purchasing an additional 1,000,000 shares during the period. Finally, Distillate Capital Partners LLC lifted its stake in Enterprise Products Partners by 160,136.7% in the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after purchasing an additional 767,055 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America assumed 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 target for the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 0.9 %

Shares of EPD traded up $0.28 during trading hours on Friday, hitting $31.09. The company had a trading volume of 5,536,140 shares, compared to its average volume of 4,308,577. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $67.39 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a one year low of $25.95 and a one year high of $31.33. The company’s fifty day moving average price is $29.44 and its two-hundred day moving average price is $29.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is presently 78.65%.

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.