Smithbridge Asset Management Inc. DE Has $2.84 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Smithbridge Asset Management Inc. DE cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,410 shares of the oil and gas producer’s stock after selling 9,892 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Enterprise Products Partners were worth $2,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of EPD. Blackstone Inc. grew its holdings in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares during the period. Energy Income Partners LLC increased its holdings in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after purchasing an additional 142,689 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Enterprise Products Partners by 2.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after buying an additional 284,772 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Enterprise Products Partners by 2,862.8% during 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 buying an additional 7,494,224 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EPD shares. Bank of America started coverage on shares of 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. Royal Bank of Canada increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.01 during trading on Monday, hitting $29.06. The stock had a trading volume of 322,477 shares, compared to its average volume of 4,262,756. The firm has a market cap of $63.07 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.32 and a beta of 1.03. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The business’s 50-day moving average is $29.24 and its 200 day moving average is $28.94. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.