Steele Capital Management Inc. Has $694,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Steele Capital Management Inc. increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 26.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,847 shares of the oil and gas producer’s stock after buying an additional 5,000 shares during the period. Steele Capital Management Inc.’s holdings in Enterprise Products Partners were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blackstone Inc. increased its position in Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares during the last quarter. Energy Income Partners LLC boosted its position in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after purchasing an additional 142,689 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the period. Finally, Chickasaw Capital Management LLC increased its position in Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock worth $159,901,000 after buying an additional 87,930 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EPD has been the topic of several research reports. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial raised 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. 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, October 30th. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One 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. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Up 0.5 %

Shares of NYSE EPD opened at $31.79 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $31.87. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average is $29.60 and its 200 day moving average is $29.13. The company has a market cap of $68.90 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.63 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, equities research 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 company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.61%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Enterprise Products Partners Company 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.