EP Wealth Advisors LLC Increases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

EP Wealth Advisors LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 195,500 shares of the oil and gas producer’s stock after buying an additional 47,606 shares during the quarter. EP Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $5,691,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pathway Financial Advisers LLC lifted its position in Enterprise Products Partners by 2,862.8% in 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 acquiring an additional 7,494,224 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares in the last quarter. FMR LLC lifted its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after purchasing an additional 1,225,988 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $30,746,000. Finally, Distillate Capital Partners LLC increased its position 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 period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2 %

EPD opened at $32.80 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 12 month low of $25.96 and a 12 month high of $34.63. The stock has a market capitalization of $71.10 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.69 and a beta of 1.08. The business has a 50 day simple moving average of $30.50 and a 200-day simple moving average of $29.51.

Enterprise Products Partners (NYSE:EPD) last released its 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 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 analyst estimates of $13.87 billion. During the same period last year, the business posted $0.60 EPS. Enterprise Products Partners’s 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 fiscal year.

Enterprise Products Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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 target price for the company. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Company 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.