Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Addison Capital Co

Addison Capital Co lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 174.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 47,315 shares of the oil and gas producer's stock after buying an additional 30,068 shares during the period. Addison Capital Co's holdings in Enterprise Products Partners were worth $1,377,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EPD. Blackstone Inc. increased its stake in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer's stock valued at $686,712,000 after acquiring an additional 1,391,370 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in 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 during the last quarter. Energy Income Partners LLC raised its stake in Enterprise Products Partners by 0.9% during 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 period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enterprise Products Partners by 2.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer's stock valued at $326,091,000 after purchasing an additional 284,772 shares during the last quarter. Finally, Chickasaw Capital Management LLC grew its stake in shares of Enterprise Products Partners by 1.6% during the 2nd 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 buying an additional 87,930 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EPD. Royal Bank of Canada increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial lifted their price objective 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. Bank of America began coverage on Enterprise Products Partners in a report on Thursday. They set a "buy" rating and a $35.00 target price for the company. Finally, StockNews.com cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. One equities research 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $33.73.

Enterprise Products Partners Stock Up 0.1 %

NYSE:EPD traded up $0.04 on Friday, reaching $29.17. The stock had a trading volume of 3,846,921 shares, compared to its average volume of 4,301,547. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The stock has a market cap of $63.34 billion, a P/E ratio of 11.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $29.21 and a 200 day moving average of $28.97.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analysts' expectations of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners's revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners's dividend payout ratio is presently 82.35%.

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.