Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,219 shares of the oil and gas producer’s stock after purchasing an additional 720 shares during the period. Old North State Wealth Management LLC’s holdings in Enterprise Products Partners were worth $501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Norden Group LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $587,000. Diversify Advisory Services LLC bought a new position in Enterprise Products Partners in the 1st quarter worth about $350,000. Lincoln National Corp grew its position in Enterprise Products Partners by 1.1% in the 1st quarter. Lincoln National Corp now owns 99,767 shares of the oil and gas producer’s stock worth $2,911,000 after purchasing an additional 1,073 shares during the last quarter. First Command Advisory Services Inc. grew its position in 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 purchasing an additional 913 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Enterprise Products Partners by 60.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 10,227 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 3,866 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.6 %

EPD stock opened at $28.82 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm has a market cap of $62.55 billion, a PE ratio of 10.79, a P/E/G ratio of 1.31 and a beta of 1.04. Enterprise Products Partners L.P. has a 12 month low of $25.88 and a 12 month high of $30.05. The firm has a 50 day simple moving average of $29.22 and a 200 day simple moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.29%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research 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, the stock currently has an average rating of “Buy” and a consensus target price 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.