Private Wealth Partners LLC Invests $597,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Private Wealth Partners LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,500 shares of the oil and gas producer’s stock, valued at approximately $597,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners during the second quarter worth $25,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the first quarter worth $29,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners during the second quarter worth $29,000. DiNuzzo Private Wealth Inc. boosted its stake in 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 buying an additional 1,000 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in Enterprise Products Partners during the second quarter worth $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EPD. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. 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. Truist Financial boosted 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. 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, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $28.82 on Friday. The stock has a 50-day simple moving average of $29.22 and a 200 day simple moving average of $28.95. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $25.88 and a 12-month high of $30.05. The stock has a market capitalization of $62.55 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.31 and a beta of 1.04.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.29%. Enterprise Products Partners’s dividend 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.