Sendero Wealth Management LLC Purchases 827 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sendero Wealth Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,195 shares of the oil and gas producer’s stock after buying an additional 827 shares during the quarter. Sendero Wealth Management LLC’s holdings in Enterprise Products Partners were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Blackstone Inc. increased its stake 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 acquiring an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares in the last quarter. Energy Income Partners LLC grew its position in 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 acquiring an additional 142,689 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in Enterprise Products Partners by 2.6% during 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 acquiring an additional 284,772 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.6% during the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after acquiring an additional 87,930 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock traded up $0.26 during midday trading on Thursday, reaching $29.45. The company had a trading volume of 1,073,190 shares, compared to its average volume of 4,323,522. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $29.13 and a 200 day simple moving average of $28.97. 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 capitalization of $63.95 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the business earned $0.57 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 26.6% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a $0.525 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.13%. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $33.50.

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.