International Assets Investment Management LLC Grows Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

International Assets Investment Management LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2,854.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,287,318 shares of the oil and gas producer’s stock after acquiring an additional 1,243,741 shares during the quarter. International Assets Investment Management LLC owned 0.06% of Enterprise Products Partners worth $37,474,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EPD. Aviance Capital Partners LLC grew its stake in shares of Enterprise Products Partners by 51.7% in the first quarter. Aviance Capital Partners LLC now owns 14,675 shares of the oil and gas producer’s stock worth $428,000 after purchasing an additional 5,000 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Enterprise Products Partners by 7.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 5,746 shares of the oil and gas producer’s stock valued at $168,000 after purchasing an additional 421 shares in the last quarter. E&G Advisors LP raised its holdings in Enterprise Products Partners by 0.9% in the first quarter. E&G Advisors LP now owns 52,104 shares of the oil and gas producer’s stock worth $1,515,000 after buying an additional 473 shares during the last quarter. Norden Group LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth approximately $587,000. Finally, Veracity Capital LLC grew its holdings in shares of Enterprise Products Partners by 1.6% during the first quarter. Veracity Capital LLC now owns 38,461 shares of the oil and gas producer’s stock valued at $1,122,000 after buying an additional 619 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Truist Financial increased 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. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Up 0.3 %

Shares of EPD stock opened at $29.14 on Tuesday. The company has a 50 day simple moving average of $29.24 and a two-hundred day simple moving average of $28.94. The stock has a market cap of $63.24 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.32 and a beta of 1.03. 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 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 posted its quarterly earnings data 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 company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 80.15%.

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.