HM Payson & Co. Acquires 3,081 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

HM Payson & Co. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,473 shares of the oil and gas producer’s stock after purchasing an additional 3,081 shares during the quarter. HM Payson & Co.’s holdings in Enterprise Products Partners were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Pinnacle Associates Ltd. lifted its stake in Enterprise Products Partners by 14.1% in the third quarter. Pinnacle Associates Ltd. now owns 132,696 shares of the oil and gas producer’s stock valued at $3,863,000 after buying an additional 16,371 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Enterprise Products Partners by 1.0% during the 3rd quarter. Mutual Advisors LLC now owns 186,487 shares of the oil and gas producer’s stock valued at $5,414,000 after acquiring an additional 1,935 shares during the period. Fidelis Capital Partners LLC boosted its stake in Enterprise Products Partners by 1.6% during the third quarter. Fidelis Capital Partners LLC now owns 37,374 shares of the oil and gas producer’s stock worth $1,083,000 after acquiring an additional 598 shares in the last quarter. Finally, Tyche Wealth Partners LLC grew its holdings in Enterprise Products Partners by 1.3% in the third quarter. Tyche Wealth Partners LLC now owns 31,219 shares of the oil and gas producer’s stock worth $909,000 after purchasing an additional 407 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EPD shares. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Price Performance

EPD opened at $28.66 on Friday. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market capitalization of $62.20 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.32 and a beta of 1.03. The firm’s fifty day moving average price is $29.23 and its two-hundred day moving average price is $28.94.

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 for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.33%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 80.15%.

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.