Park Avenue Securities LLC Acquires 1,474 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Park Avenue Securities LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,633 shares of the oil and gas producer’s stock after purchasing an additional 1,474 shares during the period. Park Avenue Securities LLC’s holdings in Enterprise Products Partners were worth $1,066,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EPD. Sei Investments Co. grew its position in Enterprise Products Partners by 9.6% in the fourth quarter. Sei Investments Co. now owns 1,124,750 shares of the oil and gas producer’s stock valued at $29,637,000 after acquiring an additional 98,494 shares during the period. Tortoise Index Solutions LLC grew its holdings in shares of Enterprise Products Partners by 12.1% in the 4th quarter. Tortoise Index Solutions LLC now owns 795,621 shares of the oil and gas producer’s stock worth $20,965,000 after purchasing an additional 85,851 shares during the last quarter. First Financial Bankshares Inc acquired a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $723,000. Pinnacle Holdings LLC lifted its holdings in Enterprise Products Partners by 7.2% during the 4th quarter. Pinnacle Holdings LLC now owns 82,173 shares of the oil and gas producer’s stock valued at $2,165,000 after purchasing an additional 5,485 shares during the last quarter. Finally, Kingfisher Capital LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $343,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 1.3 %

EPD stock opened at $29.19 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company has a market cap of $63.39 billion, a P/E ratio of 11.45, a PEG ratio of 1.50 and a beta of 1.03. The business has a fifty day moving average of $29.13 and a 200-day moving average of $28.96.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). The firm had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Announces Dividend

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. This represents a $2.10 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.35%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EPD shares. 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. Truist Financial lifted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $33.50.

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.