Leavell Investment Management Inc. Acquires 3,891 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Leavell Investment Management Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 68,980 shares of the oil and gas producer’s stock after acquiring an additional 3,891 shares during the period. Leavell Investment Management Inc.’s holdings in Enterprise Products Partners were worth $2,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC lifted its position 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 worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. Blackstone Inc. lifted its holdings in 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 valued at $686,712,000 after buying an additional 1,391,370 shares during the period. International Assets Investment Management LLC boosted its position in Enterprise Products Partners by 2,854.1% during the third quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after acquiring an additional 1,243,741 shares during the last quarter. Berkley W R Corp grew its holdings in 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 worth $148,520,000 after acquiring an additional 1,000,000 shares during the period. Finally, Distillate Capital Partners LLC raised its position in shares of Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after acquiring an additional 767,055 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on EPD. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. 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. Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $30.42 on Friday. The stock has a market cap of $66.02 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average price is $29.28 and its two-hundred day moving average price is $28.99. Enterprise Products Partners L.P. has a 52 week low of $25.88 and a 52 week high of $30.45.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

About Enterprise Products Partners

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.