US Bancorp DE Acquires 6,267 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

US Bancorp DE boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 688,851 shares of the oil and gas producer’s stock after acquiring an additional 6,267 shares during the period. US Bancorp DE’s holdings in Enterprise Products Partners were worth $20,052,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Strategic Wealth Partners Ltd. boosted its stake in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares in the last quarter. Cadence Bank boosted its position in Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC raised its position in shares of Enterprise Products Partners by 1.3% in the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after acquiring an additional 372 shares in the last quarter. Ellenbecker Investment Group lifted its stake in shares of Enterprise Products Partners by 1.5% in the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock valued at $735,000 after purchasing an additional 374 shares during the period. Finally, Advisor OS LLC boosted its position in shares of Enterprise Products Partners by 1.3% during the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 379 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EPD. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday. Bank of America began 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. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Price Performance

NYSE EPD opened at $28.82 on Friday. Enterprise Products Partners L.P. has a one year low of $25.88 and a one year high of $30.05. The stock has a 50-day moving average of $29.22 and a 200 day moving average of $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company has a market capitalization of $62.54 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.33 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 20.39% and a net margin of 10.32%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.7 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.29%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

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.