Enterprise Products Partners L.P. (NYSE:EPD) is WP Advisors LLC’s 6th Largest Position

WP Advisors LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,549 shares of the oil and gas producer’s stock after acquiring an additional 8,910 shares during the period. Enterprise Products Partners accounts for about 3.6% of WP Advisors LLC’s portfolio, making the stock its 6th largest holding. WP Advisors LLC’s holdings in Enterprise Products Partners were worth $9,826,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of EPD. MAI Capital Management increased its position in shares of Enterprise Products Partners by 2.3% during the third quarter. MAI Capital Management now owns 611,867 shares of the oil and gas producer’s stock worth $17,811,000 after purchasing an additional 13,547 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Enterprise Products Partners by 5.2% in the 3rd 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 in the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in Enterprise Products Partners during the third quarter worth about $670,000. Turtle Creek Wealth Advisors LLC lifted its position in shares of Enterprise Products Partners by 9.7% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 28,470 shares of the oil and gas producer’s stock valued at $829,000 after acquiring an additional 2,515 shares in the last quarter. Finally, Paragon Advisors LLC acquired a new stake in Enterprise Products Partners during the third quarter worth approximately $2,628,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. 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 research report on Wednesday, July 31st. Finally, 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 price objective for the company. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 0.9 %

NYSE:EPD opened at $31.09 on Monday. The stock has a market cap of $67.39 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.60 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.95 and a 1 year high of $31.33. The stock has a 50-day moving average price of $29.44 and a two-hundred day moving average price of $29.07. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last released 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). 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 during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the company posted $0.60 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.75%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.