Cynosure Group LLC Buys New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Cynosure Group LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,298 shares of the oil and gas producer’s stock, valued at approximately $358,000.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted its position in Enterprise Products Partners by 2,862.8% during the third 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 purchasing an additional 7,494,224 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Enterprise Products Partners by 2,854.1% in 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 buying an additional 1,243,741 shares during the last quarter. FMR LLC grew its stake in shares of Enterprise Products Partners by 9.3% in the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Distillate Capital Partners LLC increased its holdings in Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after buying an additional 767,055 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. raised its position in Enterprise Products Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 2.4 %

EPD opened at $33.65 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The stock has a fifty day moving average of $30.01 and a 200-day moving average of $29.31. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $33.85. The company has a market capitalization of $72.94 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.67 and a beta of 1.04.

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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.24%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.