Duncan Williams Asset Management LLC Buys Shares of 7,763 Enterprise Products Partners L.P. (NYSE:EPD)

Duncan Williams Asset Management LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,763 shares of the oil and gas producer’s stock, valued at approximately $226,000.

A number of other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Enterprise Products Partners in the 4th quarter worth about $52,000. Cetera Advisor Networks LLC increased its position in shares of Enterprise Products Partners by 3.2% in the fourth quarter. Cetera Advisor Networks LLC now owns 304,312 shares of the oil and gas producer’s stock worth $8,019,000 after purchasing an additional 9,575 shares during the last quarter. Stephens Inc. AR raised its stake in Enterprise Products Partners by 1.2% in the fourth quarter. Stephens Inc. AR now owns 286,871 shares of the oil and gas producer’s stock valued at $7,559,000 after purchasing an additional 3,281 shares in the last quarter. Waterloo Capital L.P. lifted its position in Enterprise Products Partners by 26.6% during the fourth quarter. Waterloo Capital L.P. now owns 13,222 shares of the oil and gas producer’s stock valued at $348,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in Enterprise Products Partners by 2.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 4,686,444 shares of the oil and gas producer’s stock worth $123,488,000 after buying an additional 109,712 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.2 %

Shares of NYSE:EPD traded up $0.06 during trading on Friday, reaching $29.70. 2,752,466 shares of the company traded hands, compared to its average volume of 4,362,001. 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 L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The firm has a market capitalization of $64.50 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.50 and a beta of 1.03. The business’s fifty day moving average is $29.13 and its 200-day moving average is $28.96.

Enterprise Products Partners (NYSE:EPD) last released 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). The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 EPS. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 7.07%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.35%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EPD. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Truist Financial upped their price objective 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, StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Two analysts have 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.08.

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.