Enterprise Products Partners L.P. $EPD Shares Newly Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,487 shares of the oil and gas producer’s stock, valued at approximately $1,338,000.

Other institutional investors have also made changes to their positions in the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Enterprise Products Partners by 15.1% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,801,500 shares of the oil and gas producer’s stock valued at $64,151,000 after purchasing an additional 236,000 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $12,866,000. Bank of America Corp DE bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $416,553,000. Core Capital Management & Research inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $4,393,000. Finally, Ulrich Consultants & Investment Group LLC acquired a new stake in shares of Enterprise Products Partners in the third quarter worth $1,315,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD opened at $36.74 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average price is $37.47 and its two-hundred day moving average price is $37.39. The firm has a market capitalization of $79.34 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.37 and a beta of 0.48. Enterprise Products Partners L.P. has a 12-month low of $30.97 and a 12-month high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Enterprise Products Partners had a return on equity of 21.50% and a net margin of 10.24%. The company had revenue of $17.95 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 49.3% compared to the same quarter last year. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 3.05 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. Enterprise Products Partners’s payout ratio is 74.17%.

Analyst Ratings Changes

Several research firms recently issued reports on EPD. Morgan Stanley reaffirmed an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Weiss Ratings downgraded shares of Enterprise Products Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. Finally, Truist Financial upped their price target on shares of Enterprise Products Partners from $40.00 to $41.00 and gave the company a “hold” rating in a report on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.18.

Enterprise Products Partners Company Profile

Enterprise Products Partners (NYSE: EPD) is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.

The company’s assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.