Atlanta Consulting Group Advisors LLC Makes New $670,000 Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Atlanta Consulting Group Advisors LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,008 shares of the oil and gas producer's stock, valued at approximately $670,000.

Several other large investors have also recently modified their holdings of EPD. Blackstone Inc. increased its position in shares of Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Enterprise Products Partners by 4.8% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer's stock valued at $470,091,000 after buying an additional 741,237 shares in the last quarter. Energy Income Partners LLC boosted its holdings in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer's stock worth $455,761,000 after acquiring an additional 142,689 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of 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 worth $225,777,000 after acquiring an additional 7,494,224 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its holdings in shares of Enterprise Products Partners by 1.6% during the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer's stock valued at $159,901,000 after acquiring an additional 87,930 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 research analyst reports. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. StockNews.com lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of "Buy" and an average target price of $34.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.28 during mid-day trading on Friday, hitting $31.09. The company had a trading volume of 5,536,140 shares, compared to its average volume of 4,295,243. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $67.39 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.60 and a beta of 1.04. The company's fifty day moving average is $29.44 and its 200-day moving average is $29.06. Enterprise Products Partners L.P. has a 12-month low of $25.95 and a 12-month high of $31.33.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. Enterprise Products Partners's payout ratio is 78.65%.

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.