Stock Yards Bank & Trust Co. Has $1.77 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Stock Yards Bank & Trust Co. raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,844 shares of the oil and gas producer’s stock after purchasing an additional 3,500 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Enterprise Products Partners were worth $1,771,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Paragon Advisors LLC acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. FMR LLC boosted its holdings in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after acquiring an additional 1,225,988 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Enterprise Products Partners by 37.7% in the third quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after purchasing an additional 16,018 shares during the period. Finally, Brookfield Corp ON boosted its stake in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after purchasing an additional 278,892 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $32.41 on Friday. The company has a market capitalization of $70.24 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.67 and a beta of 1.08. The company has a 50-day moving average of $30.68 and a 200-day moving average of $29.60. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed 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 of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.48%. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Wall Street Analyst Weigh In

Several research analysts have commented on EPD shares. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners currently has an average 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.