Great Valley Advisor Group Inc. Buys 8,894 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Great Valley Advisor Group Inc. lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 9.5% during the third quarter, HoldingsChannel reports. The firm owned 102,446 shares of the oil and gas producer’s stock after purchasing an additional 8,894 shares during the period. Great Valley Advisor Group Inc.’s holdings in Enterprise Products Partners were worth $2,982,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the second quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new stake in Enterprise Products Partners in the second quarter worth about $29,000. DiNuzzo Private Wealth Inc. lifted its stake in Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. lifted its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the third quarter worth about $36,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $32.82 on Monday. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $32.85. The company has a 50 day moving average price of $29.72 and a 200 day moving average price of $29.20. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $71.14 billion, a P/E ratio of 12.29, a PEG ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business 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. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.40%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analyst Ratings Changes

EPD has been the subject of several analyst reports. Bank of America initiated coverage on shares of 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. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price 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.