Blue Trust Inc. Buys 4,473 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Blue Trust Inc. grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 79,703 shares of the oil and gas producer’s stock after purchasing an additional 4,473 shares during the quarter. Blue Trust Inc.’s holdings in Enterprise Products Partners were worth $2,310,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EPD. Park Avenue Securities LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $951,000. Douglas Lane & Associates LLC lifted its stake in shares of Enterprise Products Partners by 27.4% in the first quarter. Douglas Lane & Associates LLC now owns 19,604 shares of the oil and gas producer’s stock worth $572,000 after buying an additional 4,216 shares in the last quarter. GP Brinson Investments LLC grew its holdings in shares of Enterprise Products Partners by 174.0% during the first quarter. GP Brinson Investments LLC now owns 743,733 shares of the oil and gas producer’s stock valued at $21,702,000 after buying an additional 472,270 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Enterprise Products Partners by 2.2% during the first quarter. Miller Howard Investments Inc. NY now owns 3,220,815 shares of the oil and gas producer’s stock valued at $93,983,000 after acquiring an additional 69,396 shares in the last quarter. Finally, Charles Schwab Trust Co boosted its stake in Enterprise Products Partners by 6.7% during the 1st quarter. Charles Schwab Trust Co now owns 69,900 shares of the oil and gas producer’s stock valued at $2,040,000 after purchasing an additional 4,382 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Up 0.2 %

Shares of EPD stock opened at $29.18 on Friday. The company has a 50 day simple moving average of $29.21 and a two-hundred day simple moving average of $28.97. The stock has a market cap of $63.37 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the prior year, the business posted $0.57 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Analyst Ratings Changes

A number of analysts have commented on EPD shares. Royal Bank of Canada lifted 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. Truist Financial boosted 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. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday. They set a “buy” rating and a $35.00 price target on the stock. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One 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 data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $33.73.

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.