Glenmede Trust Co. NA Increases Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Glenmede Trust Co. NA raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 735,233 shares of the oil and gas producer’s stock after purchasing an additional 64,968 shares during the quarter. Glenmede Trust Co. NA’s holdings in Enterprise Products Partners were worth $21,403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Sanibel Captiva Trust Company Inc. lifted its holdings in Enterprise Products Partners by 5.1% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 17,464 shares of the oil and gas producer’s stock worth $510,000 after buying an additional 840 shares during the period. Koesten Hirschmann & Crabtree INC. boosted its position in shares of Enterprise Products Partners by 64.1% in the 1st quarter. Koesten Hirschmann & Crabtree INC. now owns 2,297 shares of the oil and gas producer’s stock worth $67,000 after purchasing an additional 897 shares in the last quarter. First City Capital Management Inc. bought a new stake in shares of Enterprise Products Partners in the 1st quarter worth approximately $245,000. Austin Wealth Management LLC increased its position in Enterprise Products Partners by 196.5% during the 1st quarter. Austin Wealth Management LLC now owns 22,718 shares of the oil and gas producer’s stock valued at $646,000 after buying an additional 15,057 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in Enterprise Products Partners by 402.2% during the first quarter. Cetera Investment Advisers now owns 806,279 shares of the oil and gas producer’s stock valued at $23,527,000 after buying an additional 645,714 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 2.4 %

Shares of EPD stock opened at $33.66 on Thursday. The company has a 50 day simple moving average of $29.92 and a two-hundred day simple moving average of $29.28. The stock has a market cap of $72.95 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.67 and a beta of 1.04. Enterprise Products Partners L.P. has a 12 month low of $25.96 and a 12 month high of $33.85. 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 released its quarterly earnings results 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 net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Wall Street Analysts Forecast Growth

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