Indie Asset Partners LLC Invests $229,000 in Enterprise Products Partners L.P. (NYSE:EPD)

Indie Asset Partners LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,862 shares of the oil and gas producer’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EPD. Pathway Financial Advisers LLC lifted its stake in shares of Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after purchasing an additional 7,494,224 shares during the period. Blackstone Inc. raised its position in shares of Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after acquiring an additional 1,391,370 shares during the period. Reaves W H & Co. Inc. raised its position in shares of Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. Finally, Berkley W R Corp grew its position in shares of Enterprise Products Partners by 24.5% during the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after acquiring an additional 1,000,000 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Bank of America assumed coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, 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. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Up 0.6 %

Shares of NYSE:EPD opened at $28.82 on Friday. 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 L.P. has a 52-week low of $25.88 and a 52-week high of $30.05. The business has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.95. The stock has a market cap of $62.55 billion, a P/E ratio of 10.79, a PEG ratio of 1.31 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted 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 period last year, the business earned $0.60 EPS. Enterprise Products Partners’s revenue was up 14.8% compared to the same quarter last year. On average, research 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 company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) 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.