Wealth Alliance Advisory Group LLC Boosts Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Wealth Alliance Advisory Group LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,097 shares of the oil and gas producer’s stock after buying an additional 1,030 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Enterprise Products Partners were worth $439,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth $25,000. Stephens Consulting LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $29,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $29,000. Mascoma Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $29.18 on Friday. The stock has a market capitalization of $63.37 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The company has a fifty day moving average of $29.21 and a 200-day moving average of $28.97. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period last year, the business posted $0.57 earnings per share. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday. They set a “buy” rating and a $35.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.