Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,779 shares of the oil and gas producer’s stock after buying an additional 2,390 shares during the period. Magnus Financial Group LLC’s holdings in Enterprise Products Partners were worth $1,245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at $25,000. Stephens Consulting LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth about $29,000. Palisade Asset Management LLC purchased a new position in shares of Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $29,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EPD shares. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average price target of $33.50.

Enterprise Products Partners Price Performance

Shares of NYSE EPD traded down $0.33 during trading on Tuesday, hitting $29.16. 3,495,187 shares of the company were exchanged, compared to its average volume of 4,318,522. The firm’s fifty day moving average price is $29.20 and its 200 day moving average price is $28.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $30.05.

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

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. Enterprise Products Partners’s payout ratio is 82.35%.

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.