Black Swift Group LLC Makes New $349,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Black Swift Group LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 12,000 shares of the oil and gas producer’s stock, valued at approximately $349,000.

Several other hedge funds have also recently bought and sold shares of EPD. SG Americas Securities LLC bought a new stake in Enterprise Products Partners during the first quarter worth about $212,000. QRG Capital Management Inc. increased its holdings in shares of Enterprise Products Partners by 8.1% in the first quarter. QRG Capital Management Inc. now owns 9,007 shares of the oil and gas producer’s stock valued at $263,000 after purchasing an additional 677 shares during the last quarter. Nwam LLC raised its position in shares of Enterprise Products Partners by 25.1% in the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after purchasing an additional 4,184 shares during the period. GM Advisory Group LLC boosted its holdings in shares of Enterprise Products Partners by 17.0% during the 1st quarter. GM Advisory Group LLC now owns 78,683 shares of the oil and gas producer’s stock worth $2,296,000 after buying an additional 11,450 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC grew its stake in Enterprise Products Partners by 3.8% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 98,634 shares of the oil and gas producer’s stock valued at $2,878,000 after buying an additional 3,572 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock traded up $0.14 during midday trading on Thursday, reaching $30.53. The company’s stock had a trading volume of 133,691 shares, compared to its average volume of 4,280,206. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The stock has a market cap of $66.18 billion, a PE ratio of 11.38, 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 $25.95 and a 52 week high of $30.74. The business has a 50-day moving average price of $29.36 and a 200-day moving average price of $29.02.

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). The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EPD shares. 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, October 30th. 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. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners 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.