Burford Brothers Inc. Acquires 3,380 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Burford Brothers Inc. raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,692 shares of the oil and gas producer’s stock after purchasing an additional 3,380 shares during the period. Burford Brothers Inc.’s holdings in Enterprise Products Partners were worth $864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the last quarter. Sanders Morris Harris LLC raised its position in Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after purchasing an additional 154,822 shares during the last quarter. Nwam LLC raised its position in Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after purchasing an additional 4,184 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Enterprise Products Partners by 10.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after acquiring an additional 4,757 shares during the period. Finally, Natixis grew its holdings in shares of Enterprise Products Partners by 144.9% during the 1st quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after acquiring an additional 44,300 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $29.05 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $63.08 billion, a P/E ratio of 11.39, a PEG ratio of 1.49 and a beta of 1.03. The stock’s 50 day moving average is $29.25 and its 200 day moving average is $28.95. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05.

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

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EPD. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $33.73.

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.