Empowered Funds LLC Purchases 22,506 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Empowered Funds LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,654 shares of the oil and gas producer's stock after acquiring an additional 22,506 shares during the quarter. Empowered Funds LLC's holdings in Enterprise Products Partners were worth $5,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $212,000. QRG Capital Management Inc. lifted its stake in Enterprise Products Partners by 8.1% in the first quarter. QRG Capital Management Inc. now owns 9,007 shares of the oil and gas producer's stock valued at $263,000 after buying an additional 677 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Enterprise Products Partners by 5.5% during the 1st quarter. Acadian Asset Management LLC now owns 212,550 shares of the oil and gas producer's stock worth $6,198,000 after buying an additional 11,092 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Enterprise Products Partners by 1.2% during the 1st quarter. Osaic Holdings Inc. now owns 1,165,422 shares of the oil and gas producer's stock worth $34,012,000 after buying an additional 13,753 shares during the period. Finally, Bahl & Gaynor Inc. bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at $218,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD traded up $0.40 during mid-day trading on Monday, reaching $31.49. The stock had a trading volume of 4,316,684 shares, compared to its average volume of 4,308,620. The stock has a market capitalization of $68.26 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.60 and a beta of 1.04. The firm has a 50 day moving average price of $29.44 and a two-hundred day moving average price of $29.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $31.54.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. 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 company posted $0.60 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 annualized dividend and a dividend yield of 6.67%. Enterprise Products Partners's dividend payout ratio is currently 78.65%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on EPD shares. Royal Bank of Canada reissued an "outperform" rating and set 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 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. 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. StockNews.com downgraded Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 price target on the stock. One equities research 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, Enterprise Products Partners currently has a consensus rating of "Buy" and an average target price of $34.00.

About Enterprise Products Partners

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.