Principal Street Partners LLC Purchases 427 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Principal Street Partners LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,470 shares of the oil and gas producer’s stock after buying an additional 427 shares during the quarter. Principal Street Partners LLC’s holdings in Enterprise Products Partners were worth $478,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its stake in shares of Enterprise Products Partners by 2,862.8% during the third quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the last quarter. International Assets Investment Management LLC raised its position in Enterprise Products Partners by 2,854.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after purchasing an additional 1,243,741 shares during the last quarter. FMR LLC lifted its holdings in Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the period. Distillate Capital Partners LLC grew its position in shares of Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after buying an additional 767,055 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its stake in shares of Enterprise Products Partners by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE:EPD traded down $0.04 during mid-day trading on Tuesday, hitting $32.30. 222,990 shares of the company traded hands, compared to its average volume of 4,280,967. The stock has a 50-day moving average price of $29.77 and a two-hundred day moving average price of $29.22. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $33.22. The stock has a market cap of $70.01 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.69 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results 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 the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s payout ratio is 78.65%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EPD. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. Truist Financial lifted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $34.00.

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.