Veracity Capital LLC Grows Position in Enterprise Products Partners L.P. (NYSE:EPD)

Veracity Capital LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 39,656 shares of the oil and gas producer’s stock after acquiring an additional 605 shares during the period. Veracity Capital LLC’s holdings in Enterprise Products Partners were worth $1,154,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of EPD. O Shaughnessy Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 3,770 shares during the last quarter. Sanders Morris Harris LLC raised its stake in Enterprise Products Partners by 28.1% during the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after buying an additional 154,822 shares during the last quarter. Nwam LLC lifted its holdings in shares of Enterprise Products Partners by 25.1% during the 1st quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after buying an additional 4,184 shares during the period. J.W. Cole Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 10.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after buying an additional 4,757 shares during the last quarter. Finally, Natixis grew its holdings in shares of Enterprise Products Partners by 144.9% in the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after acquiring an additional 44,300 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.18 on Friday. The stock has a market cap of $63.37 billion, a PE ratio of 11.44, a price-to-earnings-growth 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. The firm has a fifty day moving average price of $29.21 and a 200-day moving average price of $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.

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). The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EPD shares. Truist Financial increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada upped their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday. They set a “buy” rating and a $35.00 price target on the stock. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $33.73.

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.