BIP Wealth LLC Takes $614,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

BIP Wealth LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 21,088 shares of the oil and gas producer's stock, valued at approximately $614,000.

Other hedge funds have also bought and sold shares of the company. Blackstone Inc. grew its position in 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 buying an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in shares of 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 purchasing an additional 741,237 shares in the last quarter. Energy Income Partners LLC increased its position in shares of 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 purchasing an additional 142,689 shares during the last quarter. Pathway Financial Advisers LLC raised its stake 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 purchasing an additional 7,494,224 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its position in 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 purchasing an additional 87,930 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.5 %

Enterprise Products Partners stock traded up $0.16 during trading hours on Wednesday, reaching $31.79. The stock had a trading volume of 2,901,334 shares, compared to its average volume of 4,297,012. The stock has a market cap of $68.90 billion, a PE ratio of 11.86, a PEG ratio of 1.60 and a beta of 1.04. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $31.87. 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 fifty day simple moving average of $29.54 and a 200-day simple moving average of $29.11.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS 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. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners's payout ratio is 78.65%.

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. 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 target price on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, StockNews.com cut Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. One 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 company. Based on data from MarketBeat, the company currently has a consensus 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.