Cedar Wealth Management LLC Raises Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Cedar Wealth Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,764 shares of the oil and gas producer’s stock after purchasing an additional 450 shares during the period. Cedar Wealth Management LLC’s holdings in Enterprise Products Partners were worth $488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. grew 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 purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners in the third quarter valued at about $36,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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. Truist Financial boosted their price objective 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. Finally, 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. 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 data from MarketBeat.com, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.63 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $31.64. The firm has a market capitalization of $68.56 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The business has a 50 day simple moving average of $29.54 and a 200 day simple moving average of $29.11. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities 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 issued a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.64%. Enterprise Products Partners’s payout ratio is currently 78.65%.

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.