Paragon Advisors LLC Makes New Investment in Enterprise Products Partners L.P. (NYSE:EPD)

Paragon Advisors LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 90,270 shares of the oil and gas producer’s stock, valued at approximately $2,628,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EPD. Empowered Funds LLC increased its stake in shares of Enterprise Products Partners by 14.1% during the 3rd quarter. Empowered Funds LLC now owns 181,654 shares of the oil and gas producer’s stock worth $5,288,000 after purchasing an additional 22,506 shares during the last quarter. Balboa Wealth Partners acquired a new position in Enterprise Products Partners during the third quarter worth approximately $219,000. Sargent Investment Group LLC raised its stake in Enterprise Products Partners by 2.3% in the third quarter. Sargent Investment Group LLC now owns 21,905 shares of the oil and gas producer’s stock valued at $638,000 after buying an additional 500 shares during the period. Black Swift Group LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth approximately $349,000. Finally, Curi RMB Capital LLC increased its holdings in shares of Enterprise Products Partners by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after acquiring an additional 339 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EPD shares. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Truist Financial upped their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a 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, Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Price Performance

EPD stock opened at $31.09 on Friday. The company’s 50-day moving average price is $29.44 and its two-hundred day moving average price is $29.05. The firm has a market cap of $67.39 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.57 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12 month low of $25.95 and a 12 month high of $31.33.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.