Mutual Advisors LLC Grows Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Mutual Advisors LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 186,487 shares of the oil and gas producer’s stock after purchasing an additional 1,935 shares during the period. Mutual Advisors LLC’s holdings in Enterprise Products Partners were worth $5,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in EPD. Fidelis Capital Partners LLC increased its stake in shares of Enterprise Products Partners by 1.6% during the 3rd quarter. Fidelis Capital Partners LLC now owns 37,374 shares of the oil and gas producer’s stock worth $1,083,000 after purchasing an additional 598 shares in the last quarter. Tyche Wealth Partners LLC increased its position in Enterprise Products Partners by 1.3% during the third quarter. Tyche Wealth Partners LLC now owns 31,219 shares of the oil and gas producer’s stock worth $909,000 after buying an additional 407 shares in the last quarter. Cutter & CO Brokerage Inc. raised its holdings in shares of Enterprise Products Partners by 2.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 659,484 shares of the oil and gas producer’s stock worth $19,198,000 after acquiring an additional 17,217 shares during the last quarter. MONECO Advisors LLC lifted its position in shares of Enterprise Products Partners by 0.5% in the third quarter. MONECO Advisors LLC now owns 120,918 shares of the oil and gas producer’s stock valued at $3,520,000 after acquiring an additional 591 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in shares of Enterprise Products Partners by 55.3% during the third quarter. Integrated Advisors Network LLC now owns 30,878 shares of the oil and gas producer’s stock valued at $899,000 after acquiring an additional 10,994 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note 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. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $29.24 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The business’s 50-day simple moving average is $29.24 and its 200-day simple moving average is $28.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The firm has a market capitalization of $63.46 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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). The business had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. Equities analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS 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 paid a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.18%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.