Advisors Asset Management Inc. Grows Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Advisors Asset Management Inc. lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 82,871 shares of the oil and gas producer’s stock after acquiring an additional 607 shares during the period. Advisors Asset Management Inc.’s holdings in Enterprise Products Partners were worth $2,412,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its position in Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares during the last quarter. Berkley W R Corp grew its holdings in shares of Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after buying an additional 1,000,000 shares during the last quarter. Ashford Capital Management Inc. increased its position in shares of Enterprise Products Partners by 50.5% in the 1st quarter. Ashford Capital Management Inc. now owns 99,300 shares of the oil and gas producer’s stock valued at $2,898,000 after acquiring an additional 33,300 shares during the period. Progeny 3 Inc. raised its stake in Enterprise Products Partners by 1.9% in the 1st quarter. Progeny 3 Inc. now owns 1,809,994 shares of the oil and gas producer’s stock worth $52,816,000 after acquiring an additional 33,350 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its position in Enterprise Products Partners by 1.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock worth $5,986,000 after acquiring an additional 2,679 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $32.82 on Friday. 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 L.P. has a 52 week low of $25.96 and a 52 week high of $32.85. The stock’s 50-day moving average price is $29.72 and its 200-day moving average price is $29.19. The stock has a market capitalization of $71.14 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business 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 firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is presently 78.65%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EPD. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Truist Financial lifted 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 note on Wednesday, July 31st. 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. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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 analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and an average price target 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.