Fairman Group LLC Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Fairman Group LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.0% during the third quarter, Holdings Channel reports. The fund owned 18,571 shares of the oil and gas producer’s stock after purchasing an additional 2,416 shares during the period. Enterprise Products Partners makes up about 0.5% of Fairman Group LLC’s holdings, making the stock its 28th biggest holding. Fairman Group LLC’s holdings in Enterprise Products Partners were worth $541,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at $25,000. Stephens Consulting LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth $29,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in shares of 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 worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the subject of several research reports. Truist Financial increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. Finally, 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 report on Wednesday, October 16th. One 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 data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Stock Up 0.3 %

Enterprise Products Partners stock traded up $0.09 during mid-day trading on Thursday, reaching $29.06. 198,479 shares of the company’s stock were exchanged, compared to its average volume of 4,269,216. The company has a market cap of $63.11 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a fifty day moving average of $29.25 and a 200-day moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS 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. Investors of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Enterprise Products Partners Company 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.