Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Mutual Advisors LLC

Mutual Advisors LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 186,487 shares of the oil and gas producer’s stock after acquiring an additional 1,935 shares during the quarter. Mutual Advisors LLC’s holdings in Enterprise Products Partners were worth $5,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blackstone Inc. boosted its holdings in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Enterprise Products Partners by 4.8% during 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 grew its position in shares of Enterprise Products Partners by 0.9% during 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 buying an additional 142,689 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Enterprise Products Partners by 2.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after buying an additional 284,772 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in Enterprise Products Partners by 2,862.8% in 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 acquiring an additional 7,494,224 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.5 %

Shares of NYSE:EPD opened at $29.24 on Thursday. 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 company’s 50-day moving average price is $29.24 and its 200 day moving average price is $28.95. The company has a market cap of $63.46 billion, a PE ratio of 11.16, a P/E/G ratio of 1.32 and a beta of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.18%. Enterprise Products Partners’s payout ratio is 80.15%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EPD. Truist Financial raised their price objective 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. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus price target 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.