Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Tyler Stone Wealth Management

Tyler Stone Wealth Management boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 100.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,757 shares of the oil and gas producer’s stock after acquiring an additional 4,899 shares during the period. Tyler Stone Wealth Management’s holdings in Enterprise Products Partners were worth $284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EPD. Blackstone Inc. raised its position in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Enterprise Products Partners by 4.8% in the second 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 acquiring an additional 741,237 shares in the last quarter. Energy Income Partners LLC boosted its stake in shares of Enterprise Products Partners by 0.9% in 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 acquiring an additional 142,689 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares in the last quarter. Finally, Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 1.6% in the 2nd quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after purchasing an additional 87,930 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $30.57 on Tuesday. The business’s fifty day simple moving average is $29.28 and its 200-day simple moving average is $28.99. 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 market cap of $66.34 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a 52 week low of $25.90 and a 52 week high of $30.68.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share 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 paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.87%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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. 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. Bank of America assumed coverage on 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, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $34.00.

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.