Sanctuary Wealth Management L.L.C. Acquires New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,236 shares of the oil and gas producer’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Hantz Financial Services Inc. purchased a new position in shares of Enterprise Products Partners in the second quarter worth $25,000. Mascoma Wealth Management LLC bought a new position in Enterprise Products Partners during the 2nd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Enterprise Products Partners by 1,000.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in Enterprise Products Partners in the second quarter worth approximately $37,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.6 %

EPD traded up $0.17 during trading hours on Friday, reaching $30.42. 3,121,655 shares of the company’s stock traded hands, compared to its average volume of 3,980,659. The firm has a 50-day moving average price of $29.28 and a 200 day moving average price of $28.99. The firm has a market capitalization of $66.02 billion, a PE ratio of 11.39, a PEG ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 52-week low of $25.88 and a 52-week high of $30.45.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EPD. Truist Financial increased their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America initiated coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $34.00.

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.