Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.9% during the third quarter, Holdings Channel reports. The firm owned 395,516 shares of the oil and gas producer’s stock after buying an additional 54,325 shares during the period. Cerity Partners LLC’s holdings in Enterprise Products Partners were worth $11,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Curi RMB Capital LLC increased its position in Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock worth $2,149,000 after buying an additional 339 shares during the period. Tranquility Partners LLC grew its position in shares of Enterprise Products Partners by 1.5% during the third quarter. Tranquility Partners LLC now owns 23,204 shares of the oil and gas producer’s stock worth $675,000 after acquiring an additional 346 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock worth $219,000 after acquiring an additional 350 shares during the period. Strategic Wealth Partners Ltd. grew its position in Enterprise Products Partners by 3.8% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock worth $283,000 after purchasing an additional 353 shares during the last quarter. Finally, McAdam LLC increased its stake in shares of Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 372 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price for the company. Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $32.86 on Wednesday. The business’s 50-day simple moving average is $29.84 and its 200-day simple moving average is $29.25. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $33.22. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $71.23 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.69 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 20.31% and a net margin of 10.32%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. As a group, 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 yield of 6.39%. Enterprise Products Partners’s dividend payout ratio is 78.65%.

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.