BIP Wealth LLC Purchases New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

BIP Wealth LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,088 shares of the oil and gas producer’s stock, valued at approximately $614,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 1,000.0% during 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. Assetmark Inc. increased its position in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners in the third quarter valued at about $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.63 on Wednesday. The firm has a market capitalization of $68.56 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.60 and a beta of 1.04. 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 business’s 50-day moving average price is $29.54 and its 200-day moving average price is $29.11. Enterprise Products Partners L.P. has a 12 month low of $25.96 and a 12 month high of $31.64.

Enterprise Products Partners (NYSE:EPD) last posted 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 business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 6.64%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Analyst Ratings Changes

EPD has been the topic of a number of analyst reports. 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. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial upped their target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, 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 on the stock. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $34.00.

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.