Paragon Advisors LLC Makes New $2.63 Million Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Paragon Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 90,270 shares of the oil and gas producer's stock, valued at approximately $2,628,000.

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the second 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. Assetmark Inc. lifted its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer's stock worth $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners during the 3rd quarter valued at about $36,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE EPD traded up $0.28 on Friday, hitting $31.09. 5,536,140 shares of the company's stock traded hands, compared to its average volume of 4,308,577. The firm has a market capitalization of $67.39 billion, a PE ratio of 11.64, a P/E/G ratio of 1.57 and a beta of 1.04. Enterprise Products Partners L.P. has a 1-year low of $25.95 and a 1-year high of $31.33. The firm's 50-day moving average price is $29.44 and its two-hundred day moving average price is $29.05. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.75%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners's payout ratio is 78.65%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EPD shares. US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. StockNews.com lowered Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 target price for the company. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $34.00.

Enterprise Products Partners 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.