Princeton Global Asset Management LLC Acquires 350 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Princeton Global Asset Management LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.9% during the third quarter, HoldingsChannel reports. The fund owned 7,510 shares of the oil and gas producer’s stock after purchasing an additional 350 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Enterprise Products Partners were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of EPD. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its holdings in Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth $37,000. Finally, First Command Advisory Services Inc. increased its holdings in shares of Enterprise Products Partners by 130.4% in the first quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after purchasing an additional 913 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $28.82 on Monday. The company has a 50-day simple moving average of $29.22 and a two-hundred 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 firm has a market cap of $62.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.31 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.29%. Enterprise Products Partners’s payout ratio is 78.65%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. Truist Financial upped their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $34.00.

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.