Thrivent Financial for Lutherans Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Thrivent Financial for Lutherans boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,072,866 shares of the oil and gas producer’s stock after purchasing an additional 200,625 shares during the period. Thrivent Financial for Lutherans owned approximately 0.19% of Enterprise Products Partners worth $118,561,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 1,000.0% during 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 during the period. Assetmark Inc. increased its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.09 on Friday. Enterprise Products Partners L.P. has a 52 week low of $25.95 and a 52 week high of $31.33. 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 stock has a market cap of $67.39 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The stock has a 50 day moving average of $29.44 and a 200-day moving average of $29.06.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS 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%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. On average, analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 6.75%. Enterprise Products Partners’s payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on EPD shares. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, 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 research report on Wednesday, July 31st. One investment 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 MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $34.00.

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.