Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 61.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,836 shares of the oil and gas producer's stock after buying an additional 51,809 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Enterprise Products Partners were worth $3,954,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Paragon Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter worth $2,628,000. FMR LLC boosted its stake in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer's stock valued at $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer's stock worth $118,561,000 after acquiring an additional 200,625 shares in the last quarter. Brookfield Corp ON grew its holdings in Enterprise Products Partners by 6.2% during the 3rd quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer's stock valued at $138,639,000 after purchasing an additional 278,892 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Enterprise Products Partners by 37.7% in the third quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer's stock worth $1,703,000 after purchasing an additional 16,018 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on EPD. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a "buy" rating and a $35.00 target price for the company. One investment 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.20 during trading hours on Friday, reaching $32.19. 2,550,713 shares of the company were exchanged, compared to its average volume of 4,305,525. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a twelve month low of $26.02 and a twelve month high of $34.63. The firm has a market cap of $69.77 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The stock's 50-day moving average is $30.79 and its 200-day moving average is $29.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.52%. Enterprise Products Partners's dividend payout ratio is presently 78.65%.

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.