Catalyst Capital Advisors LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 477,341 shares of the oil and gas producer's stock after buying an additional 26,136 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Enterprise Products Partners were worth $13,895,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $37,000. Finally, Denver PWM LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at $48,000. 26.07% of the stock is currently owned by institutional investors.
Enterprise Products Partners Price Performance
Enterprise Products Partners stock traded up $0.17 during mid-day trading on Tuesday, reaching $29.30. The company had a trading volume of 4,130,749 shares, compared to its average volume of 4,293,680. The business has a fifty day simple moving average of $29.22 and a 200 day simple moving average of $28.96. The company has a market cap of $63.58 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.31 and a beta of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $25.88 and a fifty-two week high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 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 for the quarter, missing analysts' consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm's revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. On average, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.17%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 78.65%.
Analysts Set New Price Targets
Several research firms recently issued reports on EPD. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a report on Monday, August 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective for the company. 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 company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $34.00.
Read Our Latest Stock Analysis on Enterprise Products Partners
About Enterprise Products Partners
(
Free Report)
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.
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