Atlanta Consulting Group Advisors LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Atlanta Consulting Group Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 23,008 shares of the oil and gas producer’s stock, valued at approximately $670,000.

A number of other institutional investors have also added to or reduced their stakes in EPD. 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 acquiring an additional 7,494,224 shares during the last quarter. 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 acquiring an additional 1,391,370 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock valued at $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. Berkley W R Corp increased its position in shares of Enterprise Products Partners by 24.5% during the 1st quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Distillate Capital Partners LLC increased its position in shares of Enterprise Products Partners by 160,136.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after purchasing an additional 767,055 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on EPD. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. 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 set a “buy” rating and a $35.00 target price for the company. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Trading Up 0.9 %

NYSE EPD opened at $31.09 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $25.95 and a fifty-two week high of $31.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a 50 day simple moving average of $29.44 and a two-hundred day simple moving average of $29.06. The stock has a market cap of $67.39 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the business posted $0.60 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.75%. The ex-dividend date was Thursday, October 31st. 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.