Verdence Capital Advisors LLC Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Verdence Capital Advisors LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,784 shares of the oil and gas producer’s stock after buying an additional 1,910 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of EPD. Pathway Financial Advisers LLC grew its stake in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after buying an additional 7,494,224 shares during the last quarter. Blackstone Inc. lifted its position in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Enterprise Products Partners by 2,854.1% during the third 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 period. Berkley W R Corp grew its holdings in shares of Enterprise Products Partners by 24.5% in the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Distillate Capital Partners LLC increased its stake in shares of Enterprise Products Partners by 160,136.7% in the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock worth $22,243,000 after buying an additional 767,055 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Down 0.5 %

Shares of Enterprise Products Partners stock opened at $30.42 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $25.90 and a 1 year high of $30.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company has a 50-day moving average of $29.31 and a 200 day moving average of $29.00. The firm has a market cap of $66.02 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.90%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Analysts Set New Price Targets

EPD has been the topic of a number of analyst reports. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial increased their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $34.00.

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.