Advisors Asset Management Inc. Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Advisors Asset Management Inc. increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,871 shares of the oil and gas producer’s stock after buying an additional 607 shares during the period. Advisors Asset Management Inc.’s holdings in Enterprise Products Partners were worth $2,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. O Shaughnessy Asset Management LLC boosted its position in shares of Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares during the last quarter. Berkley W R Corp raised its stake in shares of Enterprise Products Partners by 24.5% in the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after acquiring an additional 1,000,000 shares during the period. Ashford Capital Management Inc. lifted its holdings in shares of Enterprise Products Partners by 50.5% in the 1st quarter. Ashford Capital Management Inc. now owns 99,300 shares of the oil and gas producer’s stock worth $2,898,000 after acquiring an additional 33,300 shares during the last quarter. Progeny 3 Inc. boosted its stake in shares of Enterprise Products Partners by 1.9% during the 1st quarter. Progeny 3 Inc. now owns 1,809,994 shares of the oil and gas producer’s stock worth $52,816,000 after purchasing an additional 33,350 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its holdings in Enterprise Products Partners by 1.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock valued at $5,986,000 after purchasing an additional 2,679 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on EPD. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Truist Financial upped their price objective 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. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.5 %

Shares of NYSE EPD opened at $32.82 on Friday. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $32.85. The stock’s fifty day simple moving average is $29.72 and its two-hundred day simple moving average is $29.19. The stock has a market capitalization of $71.14 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

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

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners’s dividend payout ratio (DPR) 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.