Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 84.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,690 shares of the oil and gas producer’s stock after purchasing an additional 20,475 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EPD. Strategic Wealth Partners Ltd. raised its holdings in Enterprise Products Partners by 3.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after buying an additional 353 shares during the period. Cadence Bank lifted its holdings in shares of Enterprise Products Partners by 0.7% during the 1st quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock valued at $1,530,000 after acquiring an additional 365 shares in the last quarter. McAdam LLC boosted its position in Enterprise Products Partners by 1.3% during the 2nd quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares during the period. Ellenbecker Investment Group boosted its position in Enterprise Products Partners by 1.5% during the 3rd quarter. Ellenbecker Investment Group now owns 25,247 shares of the oil and gas producer’s stock worth $735,000 after purchasing an additional 374 shares during the period. Finally, Advisor OS LLC raised its position in Enterprise Products Partners by 1.3% in the second quarter. Advisor OS LLC now owns 29,485 shares of the oil and gas producer’s stock valued at $854,000 after purchasing an additional 379 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $29.05 on Friday. The stock has a market capitalization of $63.08 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The company’s 50-day simple moving average is $29.25 and its 200-day simple moving average is $28.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion during the quarter, compared to analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. Enterprise Products Partners’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm 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 7.23%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EPD. Royal Bank of Canada upped their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Truist Financial boosted their price objective 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. One equities research 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 data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Buy” and an average target price of $33.73.

Enterprise Products Partners Company 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.