Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Mattern Wealth Management LLC

Mattern Wealth Management LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 9.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,325 shares of the oil and gas producer’s stock after acquiring an additional 800 shares during the period. Mattern Wealth Management LLC’s holdings in Enterprise Products Partners were worth $271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners in the second quarter valued at about $25,000. Stephens Consulting LLC acquired a new stake in Enterprise Products Partners in 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 acquired a new position in Enterprise Products Partners during the second quarter worth about $29,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake 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 buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. StockNews.com cut 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 lifted 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, October 16th. 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 company currently has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Stock Down 0.1 %

Enterprise Products Partners stock traded down $0.02 during midday trading on Tuesday, hitting $28.98. 2,082,383 shares of the stock were exchanged, compared to its average volume of 4,288,811. 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 50 day moving average price of $29.23 and a two-hundred day moving average price of $28.96. The firm has a market cap of $62.93 billion, a P/E ratio of 11.32, a P/E/G 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 announced its earnings results 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 business had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.25%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 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.