International Assets Investment Management LLC Acquires 1,243,741 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

International Assets Investment Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2,854.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,287,318 shares of the oil and gas producer’s stock after purchasing an additional 1,243,741 shares during the quarter. International Assets Investment Management LLC’s holdings in Enterprise Products Partners were worth $37,474,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blackstone Inc. lifted its position in shares of 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 worth $686,712,000 after buying an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of Enterprise Products Partners by 1,368.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after acquiring an additional 1,368,440 shares in the last quarter. Berkley W R Corp boosted 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 acquiring an additional 1,000,000 shares during the last quarter. Distillate Capital Partners LLC grew its holdings 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 valued at $22,243,000 after purchasing an additional 767,055 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its position in Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Truist Financial lifted 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. Bank of America initiated coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $29.14 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average is $29.24 and its two-hundred day moving average is $28.94. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a market capitalization of $63.24 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last posted 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 return on equity of 20.13% and a net margin of 10.48%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced 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. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.15%.

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.