Catalyst Capital Advisors LLC Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Catalyst Capital Advisors LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,341 shares of the oil and gas producer’s stock after acquiring an additional 26,136 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $13,895,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Blackstone Inc. lifted its stake in Enterprise Products Partners by 6.3% in the 1st 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 in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Enterprise Products Partners by 4.8% in 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 in the last quarter. Energy Income Partners LLC lifted its stake in Enterprise Products Partners by 0.9% in the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after buying an additional 142,689 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Enterprise Products Partners by 2.6% in the 1st 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 buying an additional 284,772 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake in Enterprise Products Partners by 2,862.8% in the 3rd 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 buying an additional 7,494,224 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial raised 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 note on Wednesday, July 31st. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Trading Up 1.1 %

Shares of EPD opened at $29.13 on Tuesday. 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 firm’s 50-day moving average is $29.22 and its two-hundred day moving average is $28.96. Enterprise Products Partners L.P. has a twelve month low of $25.88 and a twelve month high of $30.05. The firm has a market capitalization of $63.22 billion, a P/E ratio of 10.91, a PEG ratio of 1.31 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share 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. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. 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 7.21%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.