Bank of Stockton Invests $231,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Bank of Stockton purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, Holdings Channel.com reports. The fund purchased 7,932 shares of the oil and gas producer’s stock, valued at approximately $231,000.

Several other institutional investors have also recently bought and sold shares of the business. Strategic Wealth Partners Ltd. lifted its stake in Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 353 shares during the last quarter. Cadence Bank boosted its stake in shares of Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after acquiring an additional 365 shares during the period. McAdam LLC increased its holdings in shares of Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares during the last quarter. Ellenbecker Investment Group lifted its holdings in Enterprise Products Partners by 1.5% during the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after purchasing an additional 374 shares during the last quarter. Finally, Advisor OS LLC boosted its position in Enterprise Products Partners by 1.3% during the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock worth $854,000 after purchasing an additional 379 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on EPD. Royal Bank of Canada lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial raised 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. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Trading Up 0.2 %

Shares of NYSE:EPD traded up $0.06 during mid-day trading on Friday, reaching $29.09. 825,948 shares of the company’s stock were exchanged, compared to its average volume of 4,270,879. The firm has a market capitalization of $63.17 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The business’s fifty day moving average price is $29.25 and its 200-day moving average price is $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 26.6% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.22%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

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.