Deroy & Devereaux Private Investment Counsel Inc. Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,960 shares of the oil and gas producer’s stock after buying an additional 1,000 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $8,121,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its stake in 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 worth $32,000 after acquiring an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC bought a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 2.1 %

Shares of EPD opened at $28.66 on Friday. The company’s fifty day moving average is $29.23 and its 200 day moving average is $28.94. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The stock has a market capitalization of $62.20 billion, a PE ratio of 10.73, a P/E/G ratio of 1.33 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Analyst Ratings Changes

A number of research firms have commented on EPD. Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. Truist Financial lifted their price objective 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. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus price target 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.