CORDA Investment Management LLC. Invests $1.03 Million in Enterprise Products Partners L.P. (NYSE:EPD)

CORDA Investment Management LLC. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,445 shares of the oil and gas producer's stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its stake in Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer's stock worth $685,000 after acquiring an additional 3,770 shares during the last quarter. Sanders Morris Harris LLC increased its stake in Enterprise Products Partners by 28.1% during the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer's stock worth $20,546,000 after acquiring an additional 154,822 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in Enterprise Products Partners by 2,862.8% during the third 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. Nwam LLC increased its stake in Enterprise Products Partners by 25.1% during the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer's stock worth $591,000 after acquiring an additional 4,184 shares during the last quarter. Finally, Natixis boosted its position in shares of Enterprise Products Partners by 144.9% during the first quarter. Natixis now owns 74,872 shares of the oil and gas producer's stock worth $2,185,000 after buying an additional 44,300 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on EPD. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial raised their price target on 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 lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 target price for the company. 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.com, Enterprise Products Partners presently has a consensus rating of "Buy" and an average price target of $34.00.

Enterprise Products Partners Stock Performance

EPD stock traded up $0.31 during trading on Monday, hitting $29.13. The company had a trading volume of 4,463,832 shares, compared to its average volume of 4,294,439. The firm has a market cap of $63.22 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. Enterprise Products Partners L.P. has a 1-year low of $25.88 and a 1-year high of $30.05. The firm has a 50-day moving average price of $29.22 and a 200-day moving average price of $28.95. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The business's revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners's payout ratio 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.