Marco Investment Management LLC Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Marco Investment Management LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 536,805 shares of the oil and gas producer’s stock after purchasing an additional 1,150 shares during the quarter. Enterprise Products Partners accounts for 1.3% of Marco Investment Management LLC’s investment portfolio, making the stock its 24th largest position. Marco Investment Management LLC’s holdings in Enterprise Products Partners were worth $15,626,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Paragon Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $2,628,000. Thrivent Financial for Lutherans increased its holdings in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $1,943,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $670,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $32.82 on Friday. The company has a market cap of $71.14 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04. Enterprise Products Partners L.P. has a 12 month low of $25.96 and a 12 month high of $32.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a 50-day simple moving average of $29.72 and a 200-day simple moving average of $29.19.

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 analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.40%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent research reports. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price 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. Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Truist Financial raised their target price 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 given a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners 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.