Clarity Financial LLC Purchases 871 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Clarity Financial LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,803 shares of the oil and gas producer’s stock after acquiring an additional 871 shares during the quarter. Clarity Financial LLC’s holdings in Enterprise Products Partners were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Blackstone Inc. increased its stake in Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after buying an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after buying an additional 741,237 shares during the period. Energy Income Partners LLC increased its stake in Enterprise Products Partners by 0.9% in the 1st quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after buying an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Enterprise Products Partners by 2.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after buying an additional 284,772 shares during the period. Finally, Pathway Financial Advisers LLC increased its stake in Enterprise Products Partners by 2,862.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock worth $225,777,000 after buying an additional 7,494,224 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Truist Financial raised their target price 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. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 1.1 %

NYSE:EPD opened at $29.13 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $25.88 and a fifty-two week high of $30.05. The stock has a market capitalization of $63.22 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.31 and a beta of 1.04. 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’s 50-day simple moving average is $29.22 and its 200-day simple moving average is $28.96.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm 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 business posted $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal 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 issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

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.