Stifel Financial Corp Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Stifel Financial Corp raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 3,470,689 shares of the oil and gas producer’s stock after buying an additional 9,257 shares during the quarter. Stifel Financial Corp’s holdings in Enterprise Products Partners were worth $101,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EPD. Paragon Advisors LLC purchased a new position in Enterprise Products Partners in the third quarter valued at $2,628,000. FMR LLC boosted its holdings in shares of Enterprise Products Partners by 9.3% in the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Enterprise Products Partners by 37.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after acquiring an additional 16,018 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in Enterprise Products Partners in the third quarter valued at $1,943,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

EPD stock opened at $32.85 on Friday. The firm has a 50 day moving average of $30.43 and a 200-day moving average of $29.48. The company has a market cap of $71.19 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.72 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $34.63.

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 analysts’ consensus estimates 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 firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.39%. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners 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.