Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 130,940 shares of the oil and gas producer’s stock after acquiring an additional 9,855 shares during the period. Independent Advisor Alliance’s holdings in Enterprise Products Partners were worth $3,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter worth about $2,628,000. Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 5.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock worth $118,561,000 after purchasing an additional 200,625 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Enterprise Products Partners by 19.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after acquiring an additional 3,770 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $1,943,000. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth about $670,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 1.5 %

Enterprise Products Partners stock opened at $32.34 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $33.22. 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 firm has a 50 day moving average price of $29.77 and a 200 day moving average price of $29.22. The company has a market capitalization of $70.10 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.04.

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

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.49%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EPD. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial increased their target price on shares of 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 began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. 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. Finally, US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price 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.