Enterprise Products Partners L.P. (NYSE:EPD) Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,072,866 shares of the oil and gas producer’s stock after buying an additional 200,625 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Enterprise Products Partners were worth $118,561,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. increased its stake in shares of 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 valued at $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. raised its holdings in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the third quarter worth approximately $36,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.9 %

Enterprise Products Partners stock opened at $31.09 on Friday. The firm has a market cap of $67.39 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. Enterprise Products Partners L.P. has a 1 year low of $25.95 and a 1 year high of $31.33. The firm’s 50 day moving average price is $29.44 and its two-hundred day moving average price is $29.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.60 EPS. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. 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 equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has an average 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.