King Luther Capital Management Corp Increases Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

King Luther Capital Management Corp raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,944 shares of the oil and gas producer’s stock after purchasing an additional 1,050 shares during the period. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings in 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 valued at $225,777,000 after buying an additional 7,494,224 shares in the last quarter. Blackstone Inc. grew its holdings in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. International Assets Investment Management LLC increased its position in Enterprise Products Partners by 2,854.1% in the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Berkley W R Corp raised its stake in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Distillate Capital Partners LLC lifted its position in Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after purchasing an additional 767,055 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial upped their target price 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. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Trading Up 1.7 %

Shares of NYSE:EPD opened at $32.34 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $70.09 billion, a PE ratio of 12.11, a P/E/G ratio of 1.63 and a beta of 1.04. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $32.56. The business’s fifty day simple moving average is $29.66 and its 200-day simple moving average is $29.16.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share 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. Shareholders 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 yield of 6.49%. 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.