Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Cwm LLC

Cwm LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 8.4% in the 3rd quarter, Holdings Channel reports. The fund owned 72,044 shares of the oil and gas producer’s stock after acquiring an additional 5,590 shares during the period. Cwm LLC’s holdings in Enterprise Products Partners were worth $2,097,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Daymark Wealth Partners LLC lifted its stake in shares of Enterprise Products Partners by 3.7% in the 3rd quarter. Daymark Wealth Partners LLC now owns 99,961 shares of the oil and gas producer’s stock worth $2,910,000 after acquiring an additional 3,521 shares during the period. Objectivity Squared LLC increased its holdings in shares of Enterprise Products Partners by 1.8% in the 3rd quarter. Objectivity Squared LLC now owns 42,571 shares of the oil and gas producer’s stock valued at $1,258,000 after purchasing an additional 753 shares in the last quarter. Howard Financial Services LTD. increased its holdings in shares of Enterprise Products Partners by 1.7% in the 3rd quarter. Howard Financial Services LTD. now owns 90,724 shares of the oil and gas producer’s stock valued at $2,641,000 after purchasing an additional 1,552 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at about $178,000. Finally, Strategic Wealth Partners Ltd. increased its holdings in shares of Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 353 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $33.50.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $29.47 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company has a market capitalization of $64.00 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The firm has a 50-day moving average price of $29.20 and a two-hundred day moving average price of $28.97. 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 (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company 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 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 7.13%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

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.