Enterprise Products Partners L.P. (NYSE:EPD) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 747,378 shares of the oil and gas producer’s stock after purchasing an additional 3,533 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Enterprise Products Partners were worth $21,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blackstone Inc. raised its holdings 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 during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in Enterprise Products Partners by 4.8% during the 2nd 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 acquiring an additional 741,237 shares during the period. Energy Income Partners LLC increased its holdings in shares of Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock valued at $455,761,000 after purchasing an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in shares of Enterprise Products Partners by 2.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock worth $326,091,000 after purchasing an additional 284,772 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings 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 worth $225,777,000 after purchasing an additional 7,494,224 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.6 %

Shares of NYSE:EPD opened at $29.30 on Wednesday. The business’s 50 day moving average price is $29.22 and its 200-day moving average price is $28.96. Enterprise Products Partners L.P. has a 1 year low of $25.88 and a 1 year high of $30.05. The firm has a market capitalization of $63.58 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68.

Enterprise Products Partners (NYSE:EPD) last announced 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The company had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company 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 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 7.17%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports 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. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $34.00.

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.