Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by GFS Advisors LLC

GFS Advisors LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8,233.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,000 shares of the oil and gas producer’s stock after acquiring an additional 49,400 shares during the quarter. GFS Advisors LLC’s holdings in Enterprise Products Partners were worth $1,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blackstone Inc. lifted its stake in shares of Enterprise Products Partners by 6.3% during 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 buying an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. lifted 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 worth $470,091,000 after purchasing an additional 741,237 shares during the period. Energy Income Partners LLC boosted its holdings 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 purchasing an additional 142,689 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its position 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 valued at $326,091,000 after purchasing an additional 284,772 shares during the period. Finally, Pathway Financial Advisers LLC increased its stake 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 purchasing an additional 7,494,224 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued 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 shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial upped their price objective on 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 raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $28.82 on Friday. Enterprise Products Partners L.P. has a 52 week low of $25.88 and a 52 week 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. The stock has a market cap of $62.55 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The stock has a 50 day moving average of $29.22 and a 200-day moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts expect that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed 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. This represents a $2.10 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.