PFG Investments LLC Has $3.71 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

PFG Investments LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 127,503 shares of the oil and gas producer’s stock after acquiring an additional 675 shares during the quarter. PFG Investments LLC’s holdings in Enterprise Products Partners were worth $3,712,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in EPD. Blackstone Inc. increased its stake in Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in shares of Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares in the last quarter. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 0.9% during the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after purchasing an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in shares of Enterprise Products Partners by 2.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after purchasing an additional 284,772 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD traded up $0.02 during trading on Friday, hitting $29.05. The company’s stock had a trading volume of 3,144,915 shares, compared to its average volume of 4,282,064. The firm’s 50 day moving average price is $29.24 and its two-hundred day moving average price is $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. The stock has a market capitalization of $63.08 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $14.23 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s revenue was up 26.6% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Truist Financial upped 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. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $33.73.

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.