Cedar Wealth Management LLC Increases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Cedar Wealth Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,764 shares of the oil and gas producer’s stock after acquiring an additional 450 shares during the period. Cedar Wealth Management LLC’s holdings in Enterprise Products Partners were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $29,000. DiNuzzo Private Wealth Inc. boosted 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 during the last quarter. 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. acquired a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.4 %

Shares of NYSE EPD opened at $31.63 on Wednesday. The stock has a fifty day moving average price of $29.54 and a 200 day moving average price of $29.11. 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 $25.96 and a 12-month high of $31.64. The company has a market cap of $68.56 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.60 and a beta of 1.04.

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 company had revenue of $13.78 billion during 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%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.64%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EPD shares. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. 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 on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Truist Financial lifted their price target 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. One investment 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 company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus price target of $34.00.

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.