SeaCrest Wealth Management LLC Acquires 7,891 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

SeaCrest Wealth Management LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 34.4% during the third quarter, HoldingsChannel reports. The fund owned 30,801 shares of the oil and gas producer’s stock after purchasing an additional 7,891 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Enterprise Products Partners were worth $897,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its stake in shares of Enterprise Products Partners by 19.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock worth $685,000 after purchasing an additional 3,770 shares during the last quarter. Sanders Morris Harris LLC grew its position in shares of Enterprise Products Partners by 28.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 705,804 shares of the oil and gas producer’s stock valued at $20,546,000 after buying an additional 154,822 shares during the last quarter. Nwam LLC increased its stake in shares of Enterprise Products Partners by 25.1% in the first quarter. Nwam LLC now owns 20,822 shares of the oil and gas producer’s stock valued at $591,000 after buying an additional 4,184 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of Enterprise Products Partners by 10.8% during the first quarter. J.W. Cole Advisors Inc. now owns 48,832 shares of the oil and gas producer’s stock worth $1,425,000 after acquiring an additional 4,757 shares during the last quarter. Finally, Natixis lifted its stake in shares of Enterprise Products Partners by 144.9% in the first quarter. Natixis now owns 74,872 shares of the oil and gas producer’s stock worth $2,185,000 after acquiring an additional 44,300 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EPD shares. Truist Financial increased their target price on shares of 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 cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $33.60.

Enterprise Products Partners Stock Up 0.0 %

Shares of NYSE EPD opened at $29.18 on Thursday. 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 quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market cap of $63.37 billion, a PE ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. The company’s fifty day simple moving average is $29.21 and its 200 day simple moving average is $28.97.

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 net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

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.