Hamlin Capital Management LLC Buys 24,335 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Hamlin Capital Management LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,923,948 shares of the oil and gas producer’s stock after acquiring an additional 24,335 shares during the quarter. Enterprise Products Partners makes up approximately 3.6% of Hamlin Capital Management LLC’s holdings, making the stock its 19th largest position. Hamlin Capital Management LLC owned 0.23% of Enterprise Products Partners worth $143,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $29,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. grew its position in shares of 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 worth $32,000 after buying an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EPD. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada boosted their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research 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. Finally, Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price 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 company’s stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Trading Up 0.1 %

Enterprise Products Partners stock opened at $29.05 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.32 and a beta of 1.03. The firm has a 50 day moving average of $29.24 and a 200 day moving average of $28.95.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.15%.

Enterprise Products Partners 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.