Burford Brothers Inc. Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Burford Brothers Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 12.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,692 shares of the oil and gas producer’s stock after purchasing an additional 3,380 shares during the quarter. Burford Brothers Inc.’s holdings in Enterprise Products Partners were worth $864,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the second quarter worth about $25,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC purchased a new position in Enterprise Products Partners during the second quarter worth about $29,000. Finally, DiNuzzo Private Wealth Inc. grew its position in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 1,000 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.1 %

NYSE EPD opened at $29.05 on Friday. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average of $29.25 and a 200-day moving average of $28.95. The firm has a market cap of $63.08 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period last year, the firm posted $0.57 EPS. The company’s revenue was up 26.6% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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 paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Analyst Upgrades and Downgrades

EPD has been the subject of several recent analyst reports. Royal Bank of Canada boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. One investment 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 company has an average rating of “Buy” and a consensus target price of $33.73.

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.