Asset Allocation Strategies LLC Boosts Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Asset Allocation Strategies LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,161 shares of the oil and gas producer’s stock after acquiring an additional 2,963 shares during the period. Asset Allocation Strategies LLC’s holdings in Enterprise Products Partners were worth $529,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its stake in shares of 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 worth $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners during the third quarter worth about $36,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America assumed 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 on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Trading Down 0.7 %

NYSE:EPD opened at $32.22 on Wednesday. Enterprise Products Partners L.P. has a 52-week low of $25.96 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $30.56 and a 200-day simple moving average of $29.55. The company has a market capitalization of $69.84 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last announced 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 business had revenue of $13.78 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.52%. Enterprise Products Partners’s dividend payout ratio is currently 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.