Wilmington Savings Fund Society FSB Acquires 84,578 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Wilmington Savings Fund Society FSB raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1,183.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 91,725 shares of the oil and gas producer’s stock after buying an additional 84,578 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Enterprise Products Partners were worth $2,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the third quarter worth about $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

EPD opened at $32.20 on Friday. The firm has a 50 day moving average of $30.79 and a two-hundred day moving average of $29.64. The firm has a market capitalization of $69.80 billion, a PE ratio of 12.06, a P/E/G ratio of 1.67 and a beta of 1.08. 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 L.P. has a 12-month low of $26.02 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.52%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.