Turtle Creek Wealth Advisors LLC Increases Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Turtle Creek Wealth Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% during the 3rd quarter, Holdings Channel reports. The firm owned 28,470 shares of the oil and gas producer’s stock after acquiring an additional 2,515 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Paragon Advisors LLC purchased a new position in shares of Enterprise Products Partners in the third quarter worth about $2,628,000. Empowered Funds LLC increased its holdings in Enterprise Products Partners by 14.1% in the 3rd quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock worth $5,288,000 after buying an additional 22,506 shares during the period. Balboa Wealth Partners purchased a new position in Enterprise Products Partners during the 3rd quarter worth approximately $219,000. Sargent Investment Group LLC lifted its stake in Enterprise Products Partners by 2.3% during the 3rd quarter. Sargent Investment Group LLC now owns 21,905 shares of the oil and gas producer’s stock valued at $638,000 after acquiring an additional 500 shares during the period. Finally, Black Swift Group LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at $349,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE EPD traded up $0.28 on Friday, hitting $31.09. The company had a trading volume of 5,536,140 shares, compared to its average volume of 4,308,577. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. The company’s fifty day moving average price is $29.44 and its 200-day moving average price is $29.05. The company has a market capitalization of $67.39 billion, a PE ratio of 11.64, a PEG ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a 12-month low of $25.95 and a 12-month high of $31.33.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. Enterprise Products Partners’s payout ratio is presently 78.65%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. Truist Financial lifted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Company 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.