Pure Financial Advisors LLC Acquires Shares of 8,157 Enterprise Products Partners L.P. (NYSE:EPD)

Pure Financial Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, HoldingsChannel reports. The fund bought 8,157 shares of the oil and gas producer’s stock, valued at approximately $237,000.

Several other hedge funds also recently made changes to their positions in EPD. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. grew its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $37,000. Finally, First Command Advisory Services Inc. grew its position in shares of Enterprise Products Partners by 130.4% in the 1st quarter. First Command Advisory Services Inc. now owns 1,613 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 913 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $28.82 on Monday. 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 $62.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.31 and a beta of 1.04. The stock’s fifty day simple moving average is $29.22 and its 200 day simple moving average is $28.95. Enterprise Products Partners L.P. has a 52-week low of $25.88 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.29%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Analyst Upgrades and Downgrades

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