Great Valley Advisor Group Inc. Purchases 8,894 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Great Valley Advisor Group Inc. raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,446 shares of the oil and gas producer’s stock after purchasing an additional 8,894 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Enterprise Products Partners were worth $2,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. grew its position in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Assetmark Inc. grew its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Enterprise Products Partners during the third quarter valued at approximately $36,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Enterprise Products Partners Price Performance

EPD stock opened at $32.82 on Monday. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $32.85. The company’s fifty day moving average price is $29.72 and its 200-day moving average price is $29.20. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The company has a market capitalization of $71.14 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm posted $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 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.