Brookfield Corp ON Grows Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Brookfield Corp ON boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,762,585 shares of the oil and gas producer's stock after buying an additional 278,892 shares during the period. Enterprise Products Partners makes up 0.8% of Brookfield Corp ON's investment portfolio, making the stock its 23rd biggest holding. Brookfield Corp ON owned approximately 0.22% of Enterprise Products Partners worth $138,639,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in EPD. Park Avenue Securities LLC grew its stake in Enterprise Products Partners by 7.9% during the second quarter. Park Avenue Securities LLC now owns 35,159 shares of the oil and gas producer's stock valued at $1,019,000 after acquiring an additional 2,582 shares in the last quarter. CWM LLC raised its position in shares of Enterprise Products Partners by 39.0% in the second quarter. CWM LLC now owns 66,454 shares of the oil and gas producer's stock worth $1,926,000 after buying an additional 18,634 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Enterprise Products Partners by 6.0% during the second quarter. QRG Capital Management Inc. now owns 9,548 shares of the oil and gas producer's stock valued at $277,000 after buying an additional 541 shares during the period. Opal Wealth Advisors LLC purchased a new position in Enterprise Products Partners during the second quarter worth about $56,000. Finally, Diversify Advisory Services LLC increased its stake in Enterprise Products Partners by 14.0% in the 2nd quarter. Diversify Advisory Services LLC now owns 13,602 shares of the oil and gas producer's stock worth $397,000 after acquiring an additional 1,673 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America started coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. One investment 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $34.00.

Enterprise Products Partners Trading Down 0.2 %

Shares of EPD traded down $0.05 during trading hours on Friday, hitting $32.80. The company had a trading volume of 4,194,005 shares, compared to its average volume of 4,398,759. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock's 50 day moving average price is $30.50 and its 200 day moving average price is $29.51. The firm has a market cap 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.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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). The company had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared 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%.

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.