Stockman Wealth Management Inc. Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Stockman Wealth Management Inc. raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,322 shares of the oil and gas producer’s stock after acquiring an additional 600 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Enterprise Products Partners were worth $737,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. increased its holdings 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 valued at $32,000 after acquiring an additional 1,000 shares during the period. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EPD. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial boosted their price objective 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. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America started coverage on shares of 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. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.17 on Friday, hitting $30.42. The company’s stock had a trading volume of 3,121,655 shares, compared to its average volume of 3,980,659. Enterprise Products Partners L.P. has a 52-week low of $25.88 and a 52-week high of $30.45. 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 firm has a fifty day moving average price of $29.28 and a 200-day moving average price of $28.99. The company has a market capitalization of $66.02 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate 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 business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

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.