Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 71,474 shares of the oil and gas producer’s stock after buying an additional 7,536 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Enterprise Products Partners were worth $2,081,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC boosted its stake in Enterprise Products Partners by 4.9% during the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after purchasing an additional 350 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its position in Enterprise Products Partners by 3.8% during the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after acquiring an additional 353 shares during the last quarter. Cadence Bank grew its stake in Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC raised its holdings in Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after acquiring an additional 372 shares during the last quarter. Finally, Ellenbecker Investment Group lifted its stake in Enterprise Products Partners by 1.5% in the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after purchasing an additional 374 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.9 %

NYSE:EPD opened at $31.09 on Friday. Enterprise Products Partners L.P. has a 52 week low of $25.95 and a 52 week high of $31.33. The stock’s fifty day moving average is $29.44 and its two-hundred day moving average is $29.05. The stock has a market capitalization of $67.39 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its 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 firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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 on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, 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 note on Wednesday, July 31st. One equities 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 company’s stock. According to MarketBeat.com, Enterprise Products Partners currently 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.