Gladstone Institutional Advisory LLC Acquires 846 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Gladstone Institutional Advisory LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,436 shares of the oil and gas producer’s stock after acquiring an additional 846 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Enterprise Products Partners were worth $595,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in 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 valued at $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Blackstone Inc. raised its stake in shares of Enterprise Products Partners by 6.3% during the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in shares of Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock valued at $42,849,000 after buying an additional 1,368,440 shares in the last quarter. International Assets Investment Management LLC raised 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 worth $37,474,000 after acquiring an additional 1,243,741 shares in the last quarter. Finally, Berkley W R Corp increased its stake in shares of 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 purchasing an additional 1,000,000 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on EPD. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, 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, October 28th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Up 0.6 %

Shares of NYSE EPD opened at $28.82 on Monday. The company has a market cap of $62.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.31 and a beta of 1.04. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12 month low of $25.88 and a 12 month high of $30.05. The stock has a 50-day moving average price of $29.22 and a two-hundred day moving average price of $28.95.

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

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.29%. Enterprise Products Partners’s payout ratio is presently 78.65%.

Enterprise Products Partners Company 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.