GFS Advisors LLC Purchases 49,400 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

GFS Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 8,233.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the oil and gas producer's stock after acquiring an additional 49,400 shares during the period. GFS Advisors LLC's holdings in Enterprise Products Partners were worth $1,456,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in EPD. Hantz Financial Services Inc. acquired a new stake in shares of Enterprise Products Partners in the second quarter worth $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the 1st quarter worth about $29,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $37,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EPD. Bank of America began 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. Truist Financial lifted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. 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. 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. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $34.00.

Enterprise Products Partners Stock Up 0.6 %

Shares of EPD traded up $0.16 during trading hours on Friday, reaching $28.82. The stock had a trading volume of 4,455,042 shares, compared to its average volume of 3,552,290. Enterprise Products Partners L.P. has a 12 month low of $25.88 and a 12 month high of $30.05. The firm has a 50-day simple moving average of $29.22 and a 200 day simple moving average of $28.95. 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 market capitalization of $62.55 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 1.31 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced 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 business had revenue of $13.78 billion for 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 20.39%. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.29%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 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.