SL Advisors LLC Raises Position in Enterprise Products Partners L.P. (NYSE:EPD)

SL Advisors LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,064 shares of the oil and gas producer’s stock after buying an additional 2,226 shares during the quarter. Enterprise Products Partners makes up about 3.8% of SL Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. SL Advisors LLC’s holdings in Enterprise Products Partners were worth $2,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $25,000. Stephens Consulting LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $29,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners during the first quarter valued at $29,000. Mascoma Wealth Management LLC acquired a new stake in shares of Enterprise Products Partners during the second quarter worth $29,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $29.19 on Wednesday. Enterprise Products Partners L.P. has a 12-month low of $25.61 and a 12-month high of $30.05. The company has a market cap of $63.39 billion, a PE ratio of 11.45, a P/E/G ratio of 1.50 and a beta of 1.03. The stock has a 50 day simple moving average of $29.13 and a 200-day simple moving average of $28.96. 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 (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (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 analyst estimates of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, equities research 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 announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.19%. Enterprise Products Partners’s payout ratio is 82.35%.

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.