Sittner & Nelson LLC Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Sittner & Nelson LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,726 shares of the oil and gas producer’s stock after acquiring an additional 2,822 shares during the period. Sittner & Nelson LLC’s holdings in Enterprise Products Partners were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after buying an additional 3,770 shares during the period. Sanders Morris Harris LLC boosted its position in shares of Enterprise Products Partners by 28.1% in the third quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock worth $20,546,000 after buying an additional 154,822 shares during the period. Catalyst Capital Advisors LLC boosted its position in shares of Enterprise Products Partners by 5.8% in the third quarter. Catalyst Capital Advisors LLC now owns 477,341 shares of the oil and gas producer’s stock worth $13,895,000 after buying an additional 26,136 shares during the period. Pathway Financial Advisers LLC boosted its position in shares of Enterprise Products Partners by 2,862.8% in the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the period. Finally, Nwam LLC boosted its position in shares of Enterprise Products Partners by 25.1% in the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 4,184 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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, October 30th. Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.0 %

Shares of Enterprise Products Partners stock opened at $30.27 on Friday. Enterprise Products Partners L.P. has a twelve month low of $25.88 and a twelve month high of $30.40. The stock has a market capitalization of $65.68 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.33 and a beta of 1.04. The business’s 50 day simple moving average is $29.24 and its 200-day simple moving average is $28.97. 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 (NYSE:EPD) last issued its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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 yield of 6.94%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

About Enterprise Products Partners

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.