Ashton Thomas Securities LLC Buys New Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Ashton Thomas Securities LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,125 shares of the oil and gas producer’s stock, valued at approximately $91,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Stockman Wealth Management Inc. increased its stake in Enterprise Products Partners by 2.4% during the 3rd quarter. Stockman Wealth Management Inc. now owns 25,322 shares of the oil and gas producer’s stock valued at $737,000 after purchasing an additional 600 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners during the third quarter worth about $36,000. Tyler Stone Wealth Management raised its holdings in shares of Enterprise Products Partners by 100.8% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,757 shares of the oil and gas producer’s stock worth $284,000 after acquiring an additional 4,899 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Enterprise Products Partners by 16.1% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 27,858 shares of the oil and gas producer’s stock valued at $811,000 after acquiring an additional 3,854 shares in the last quarter. Finally, XML Financial LLC boosted its stake in Enterprise Products Partners by 5.6% during the 3rd quarter. XML Financial LLC now owns 106,481 shares of the oil and gas producer’s stock valued at $3,100,000 after purchasing an additional 5,605 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EPD shares. Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report 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 report on Monday, October 28th. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $30.42 on Wednesday. Enterprise Products Partners L.P. has a fifty-two week low of $25.90 and a fifty-two week high of $30.68. The firm’s fifty day moving average price is $29.31 and its 200-day moving average price is $29.00. The stock has a market cap of $66.02 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. 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 firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 6.90%. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.