Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,515 shares of the oil and gas producer’s stock after acquiring an additional 4,913 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $3,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norden Group LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $587,000. GSA Capital Partners LLP raised its position in shares of Enterprise Products Partners by 135.2% in the first quarter. GSA Capital Partners LLP now owns 22,030 shares of the oil and gas producer’s stock valued at $643,000 after buying an additional 12,663 shares during the last quarter. Chevy Chase Trust Holdings LLC purchased a new position in Enterprise Products Partners during the first quarter worth approximately $219,000. Csenge Advisory Group boosted its holdings in Enterprise Products Partners by 19.9% in the 1st quarter. Csenge Advisory Group now owns 28,946 shares of the oil and gas producer’s stock valued at $845,000 after purchasing an additional 4,802 shares during the last quarter. Finally, ORG Partners LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $1,710,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Finally, Truist Financial upped 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 note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Trading Up 2.3 %

Enterprise Products Partners stock opened at $29.98 on Thursday. Enterprise Products Partners L.P. has a 1 year low of $25.88 and a 1 year high of $30.12. The firm’s 50 day moving average price is $29.24 and its two-hundred day moving average price is $28.97. The firm has a market cap of $65.07 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth 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.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.7 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm 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 dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 7.00%. Enterprise Products Partners’s dividend payout ratio (DPR) is 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.