Plan Group Financial LLC Purchases 3,418 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Plan Group Financial LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.1% during the third quarter, HoldingsChannel.com reports. The fund owned 31,678 shares of the oil and gas producer’s stock after acquiring an additional 3,418 shares during the period. Plan Group Financial LLC’s holdings in Enterprise Products Partners were worth $922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Park Avenue Securities LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $951,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Enterprise Products Partners by 15.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 92,503 shares of the oil and gas producer’s stock worth $2,699,000 after buying an additional 12,356 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 1st quarter worth $510,000. Sovereign Financial Group Inc. increased its holdings in shares of Enterprise Products Partners by 15.1% in the 1st quarter. Sovereign Financial Group Inc. now owns 10,986 shares of the oil and gas producer’s stock worth $321,000 after buying an additional 1,442 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in shares of Enterprise Products Partners by 511.2% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 68,076 shares of the oil and gas producer’s stock worth $1,986,000 after buying an additional 56,938 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.0 %

Shares of EPD opened at $28.94 on Wednesday. The stock has a market capitalization of $62.84 billion, a P/E ratio of 11.35, a PEG ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $29.24 and a two-hundred day simple moving average of $28.95. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced 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). The firm had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.26%. Enterprise Products Partners’s payout ratio is currently 82.35%.

Analyst Ratings Changes

A number of brokerages have recently commented on EPD. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada increased their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One equities 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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.