Nwam LLC Takes $629,000 Position in Enterprise Products Partners L.P. (NYSE:EPD)

Nwam LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,597 shares of the oil and gas producer’s stock, valued at approximately $629,000.

Other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC grew its position in 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 acquiring an additional 7,494,224 shares during the period. Blackstone Inc. lifted its stake in shares of Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Enterprise Products Partners by 2,854.1% during the 3rd 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 purchasing an additional 1,243,741 shares during the period. Berkley W R Corp increased its position 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. Finally, Distillate Capital Partners LLC raised its holdings in Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after buying an additional 767,055 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial upped 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. 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 objective for the company. 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 MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.5 %

Shares of NYSE:EPD opened at $32.82 on Friday. The firm has a 50 day simple moving average of $29.72 and a 200-day simple moving average of $29.19. Enterprise Products Partners L.P. has a twelve month low of $25.96 and a twelve month high of $32.85. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $71.14 billion, a PE ratio of 12.29, a P/E/G ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) 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 company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.40%. The ex-dividend date was 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.