Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,243 shares of the oil and gas producer’s stock after acquiring an additional 2,892 shares during the quarter. Quad Cities Investment Group LLC’s holdings in Enterprise Products Partners were worth $939,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. CWM LLC lifted its position in Enterprise Products Partners by 9.9% during the 1st quarter. CWM LLC now owns 47,820 shares of the oil and gas producer’s stock worth $1,395,000 after acquiring an additional 4,307 shares during the period. Welch Group LLC grew its position in Enterprise Products Partners by 25.8% in the 1st quarter. Welch Group LLC now owns 12,863 shares of the oil and gas producer’s stock valued at $375,000 after buying an additional 2,637 shares during the last quarter. Grandview Asset Management LLC increased its stake in Enterprise Products Partners by 3.7% in the 1st quarter. Grandview Asset Management LLC now owns 13,340 shares of the oil and gas producer’s stock valued at $389,000 after buying an additional 478 shares during the period. American National Bank raised its position in Enterprise Products Partners by 1,005.2% during the 1st quarter. American National Bank now owns 20,469 shares of the oil and gas producer’s stock worth $597,000 after buying an additional 18,617 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $951,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. Bank of America began coverage on Enterprise Products Partners in a report on Thursday. They issued a “buy” rating and a $35.00 price objective on the stock. StockNews.com lowered 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 price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Price Performance

Shares of EPD traded up $0.03 during mid-day trading on Thursday, reaching $29.22. 802,791 shares of the company’s stock were exchanged, compared to its average volume of 4,293,969. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a market cap of $63.45 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.49 and a beta of 1.03. The company has a 50-day simple moving average of $29.21 and a two-hundred day simple moving average of $28.97.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share 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 company had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the business posted $0.57 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced 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 of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.19%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

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.