Plan Group Financial LLC Acquires 3,418 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Plan Group Financial LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,678 shares of the oil and gas producer’s stock after acquiring an additional 3,418 shares during the period. Plan Group Financial LLC’s holdings in Enterprise Products Partners were worth $922,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth about $25,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners in the 1st quarter worth about $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the 1st quarter worth about $29,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter worth about $29,000. Finally, DiNuzzo Private Wealth Inc. grew its position in 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 purchasing an additional 1,000 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $28.94 on Wednesday. The stock has a market capitalization of $62.84 billion, a P/E ratio of 11.35, a PEG ratio of 1.49 and a beta of 1.03. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm’s 50 day moving average is $29.24 and its 200 day moving average is $28.95. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, 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 note on Wednesday, July 31st. One 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 stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $33.73.

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.