Pekin Hardy Strauss Inc. Purchases 1,900 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Pekin Hardy Strauss Inc. grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,818 shares of the oil and gas producer’s stock after buying an additional 1,900 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Enterprise Products Partners were worth $5,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Pathway Financial Advisers LLC grew its stake in 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 buying an additional 7,494,224 shares in the last quarter. Blackstone Inc. grew its position in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the period. Berkley W R Corp lifted its holdings in Enterprise Products Partners by 24.5% during the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Distillate Capital Partners LLC boosted its stake in Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after purchasing an additional 767,055 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.5 %

EPD opened at $32.82 on Friday. The business’s fifty day simple moving average is $29.72 and its 200 day simple moving average is $29.19. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $32.85. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $71.14 billion, a PE ratio of 12.29, a P/E/G ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced 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). The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research 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. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. 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. Finally, Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and a consensus price target of $34.00.

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.