L. Roy Papp & Associates LLP Acquires New Position in Enterprise Products Partners L.P. (NYSE:EPD)

L. Roy Papp & Associates LLP bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 44,956 shares of the oil and gas producer’s stock, valued at approximately $1,309,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. purchased a new position in Enterprise Products Partners during the second quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth $29,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter worth $29,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% during 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 acquiring an additional 1,000 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $37,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.1 %

NYSE:EPD traded up $0.02 on Friday, reaching $29.05. 3,144,915 shares of the company’s stock were exchanged, compared to its average volume of 3,117,903. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. 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 quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The business has a fifty day moving average of $29.24 and a 200-day moving average of $28.95.

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 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 business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $14.23 billion. During the same period in the previous year, the company earned $0.57 earnings per share. Enterprise Products Partners’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share 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. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.23%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 80.15%.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Royal Bank of Canada boosted 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. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America assumed coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. One 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. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Buy” and a consensus target price of $33.73.

About Enterprise Products Partners

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.