Deroy & Devereaux Private Investment Counsel Inc. Purchases 1,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 278,960 shares of the oil and gas producer’s stock after buying an additional 1,000 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $8,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter valued at $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at $29,000. Mascoma Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $37,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $28.66 on Friday. The firm’s 50-day moving average price is $29.23 and its 200-day moving average price is $28.94. 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 has a market cap of $62.20 billion, a PE ratio of 10.73, a PEG ratio of 1.33 and a beta of 1.03. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Analysts Set New Price Targets

Several research analysts recently issued reports on EPD shares. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday. 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 price target for the company. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Finally, Truist Financial raised their price objective on shares of 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 analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and an average price target 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.