King Luther Capital Management Corp Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

King Luther Capital Management Corp increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 236,944 shares of the oil and gas producer’s stock after buying an additional 1,050 shares during the period. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,897,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Paragon Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $2,628,000. Thrivent Financial for Lutherans increased its holdings in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after acquiring an additional 200,625 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after acquiring an additional 3,770 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new position in Enterprise Products Partners during the third quarter valued at $670,000. Finally, Empowered Funds LLC grew its position in shares of Enterprise Products Partners by 14.1% in the third quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock valued at $5,288,000 after purchasing an additional 22,506 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on EPD. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. One equities research 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, the company presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 1.7 %

Shares of NYSE:EPD opened at $32.34 on Friday. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $32.56. The stock has a market cap of $70.09 billion, a P/E ratio of 12.11, a PEG ratio of 1.63 and a beta of 1.04. The business has a fifty day moving average of $29.66 and a two-hundred day moving average of $29.16. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.49%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.