Enterprise Products Partners L.P. (NYSE:EPD) is CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's 9th Largest Position

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 16.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,045,599 shares of the oil and gas producer's stock after purchasing an additional 288,420 shares during the quarter. Enterprise Products Partners accounts for approximately 4.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 9th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.09% of Enterprise Products Partners worth $59,547,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. O Shaughnessy Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer's stock valued at $685,000 after purchasing an additional 3,770 shares during the last quarter. Sanders Morris Harris LLC increased its holdings in shares of Enterprise Products Partners by 28.1% in the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer's stock valued at $20,546,000 after purchasing an additional 154,822 shares during the last quarter. Nwam LLC increased its holdings in shares of Enterprise Products Partners by 25.1% in the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer's stock valued at $591,000 after purchasing an additional 4,184 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 10.8% in the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer's stock valued at $1,425,000 after purchasing an additional 4,757 shares during the last quarter. Finally, Natixis increased its holdings in shares of Enterprise Products Partners by 144.9% in the first quarter. Natixis now owns 74,872 shares of the oil and gas producer's stock valued at $2,185,000 after purchasing an additional 44,300 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 0.2 %

Shares of EPD stock traded down $0.05 during trading hours on Tuesday, hitting $28.95. 3,566,765 shares of the company were exchanged, compared to its average volume of 4,295,927. The firm has a market cap of $62.86 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company has a 50 day simple moving average of $29.24 and a two-hundred day simple moving average of $28.95.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results 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). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the business posted $0.57 EPS. The business's revenue for the quarter was up 26.6% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's payout ratio is presently 82.35%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 12th. Truist Financial upped their price target on shares of 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 started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Buy" and a consensus price target of $33.73.

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.