Tranquility Partners LLC Has $675,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Tranquility Partners LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 23,204 shares of the oil and gas producer’s stock after purchasing an additional 346 shares during the quarter. Tranquility Partners LLC’s holdings in Enterprise Products Partners were worth $675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Curi RMB Capital LLC grew its stake in shares of Enterprise Products Partners by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after buying an additional 339 shares in the last quarter. Princeton Global Asset Management LLC grew its position in Enterprise Products Partners by 4.9% in the third quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 350 shares in the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares during the last quarter. Cadence Bank raised its holdings in shares of Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after purchasing an additional 365 shares in the last quarter. Finally, McAdam LLC lifted its stake in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 1.3 %

NYSE EPD opened at $31.49 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $25.96 and a twelve month high of $31.54. The stock has a market cap of $68.26 billion, a PE ratio of 11.79, a PEG ratio of 1.60 and a beta of 1.04. The firm has a 50-day simple moving average of $29.49 and a 200 day simple moving average of $29.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced 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 firm 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Analyst Ratings Changes

Several equities analysts have weighed in on EPD shares. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. 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 reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America began 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 on the stock. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.