Cullen Investment Group LTD. Purchases 1,979 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cullen Investment Group LTD. lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 258,806 shares of the oil and gas producer’s stock after acquiring an additional 1,979 shares during the quarter. Enterprise Products Partners makes up 1.1% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 23rd largest position. Cullen Investment Group LTD.’s holdings in Enterprise Products Partners were worth $7,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Palisade Asset Management LLC acquired a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $29,000. Mascoma Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $37,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. Finally, Truist Financial raised their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.08.

Enterprise Products Partners Trading Up 0.2 %

Shares of EPD stock traded up $0.06 during mid-day trading on Friday, reaching $29.70. 2,752,466 shares of the stock traded hands, compared to its average volume of 4,362,001. The stock’s fifty day simple moving average is $29.13 and its two-hundred day simple moving average is $28.96. Enterprise Products Partners L.P. has a 1-year low of $25.61 and a 1-year high of $30.05. The company has a market cap of $64.50 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same period in the previous year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.07%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

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.