Sunbelt Securities Inc. Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Sunbelt Securities Inc. lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 244,367 shares of the oil and gas producer's stock after purchasing an additional 39,166 shares during the quarter. Enterprise Products Partners comprises 0.7% of Sunbelt Securities Inc.'s investment portfolio, making the stock its 29th biggest holding. Sunbelt Securities Inc.'s holdings in Enterprise Products Partners were worth $7,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in Enterprise Products Partners by 2,862.8% in the 3rd 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. Barclays PLC boosted its position in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer's stock valued at $73,699,000 after buying an additional 1,326,010 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Enterprise Products Partners by 2,854.1% in the 3rd 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 buying an additional 1,243,741 shares in the last quarter. FMR LLC raised its position in 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 worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $30,746,000. Institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective for the company. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One 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, the company presently has a consensus rating of "Buy" and an average price target of $34.00.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.21 during mid-day trading on Wednesday, hitting $32.40. The company had a trading volume of 2,653,458 shares, compared to its average volume of 4,320,970. The company has a market capitalization of $70.23 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.69 and a beta of 1.08. The stock's 50 day moving average price is $30.62 and its 200-day moving average price is $29.58. 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 debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.48%. Enterprise Products Partners's dividend payout ratio (DPR) is 78.65%.

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.