Black Swift Group LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Black Swift Group LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,000 shares of the oil and gas producer’s stock, valued at approximately $349,000.

A number of other hedge funds also recently modified their holdings of the business. Curi RMB Capital LLC raised its position in Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after purchasing an additional 339 shares during the last quarter. Summit Asset Management LLC raised its position in shares of Enterprise Products Partners by 22.5% during the third quarter. Summit Asset Management LLC now owns 15,293 shares of the oil and gas producer’s stock worth $445,000 after acquiring an additional 2,812 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Enterprise Products Partners by 11.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 71,474 shares of the oil and gas producer’s stock worth $2,081,000 after acquiring an additional 7,536 shares during the period. Haverford Trust Co boosted its holdings in Enterprise Products Partners by 1.4% in the third quarter. Haverford Trust Co now owns 74,359 shares of the oil and gas producer’s stock valued at $2,165,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Aptus Capital Advisors LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $240,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of several recent analyst reports. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective for the company. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

EPD traded up $0.14 during midday trading on Thursday, reaching $30.53. The company had a trading volume of 133,691 shares, compared to its average volume of 4,280,206. Enterprise Products Partners L.P. has a 12-month low of $25.95 and a 12-month high of $30.74. The business has a 50-day moving average price of $29.36 and a two-hundred day moving average price of $29.02. The stock has a market cap of $66.18 billion, a PE ratio of 11.38, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company posted $0.60 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company 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 annualized dividend and a yield of 6.88%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

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.