Bayshore Asset Management LLC Buys Shares of 8,250 Enterprise Products Partners L.P. (NYSE:EPD)

Bayshore Asset Management LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, HoldingsChannel.com reports. The fund purchased 8,250 shares of the oil and gas producer’s stock, valued at approximately $240,000.

A number of other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $29,000. Palisade Asset Management LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $29,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its position 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 valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Down 0.7 %

Shares of EPD stock opened at $28.99 on Tuesday. The business has a 50-day moving average of $29.23 and a 200 day moving average of $28.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The stock has a market capitalization of $62.95 billion, a PE ratio of 11.37, a P/E/G ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.24%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analysts Set New Price Targets

EPD has been the topic of a number of recent analyst reports. Truist Financial raised 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 note on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.73.

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.