37,930 Enterprise Products Partners L.P. $EPD Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 77.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,664 shares of the oil and gas producer’s stock after acquiring an additional 37,930 shares during the quarter. Parallel Advisors LLC’s holdings in Enterprise Products Partners were worth $3,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EPD. United Advisor Group LLC grew its holdings in Enterprise Products Partners by 4.9% during the 3rd quarter. United Advisor Group LLC now owns 72,878 shares of the oil and gas producer’s stock valued at $2,595,000 after buying an additional 3,414 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 6.8% during the 3rd quarter. Alps Advisors Inc. now owns 46,611,995 shares of the oil and gas producer’s stock valued at $1,659,853,000 after purchasing an additional 2,956,939 shares during the last quarter. Asset One Wealth Management LLC increased its holdings in shares of Enterprise Products Partners by 3.8% in the third quarter. Asset One Wealth Management LLC now owns 7,400 shares of the oil and gas producer’s stock worth $264,000 after purchasing an additional 268 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Enterprise Products Partners by 10.3% during the third quarter. International Assets Investment Management LLC now owns 41,454 shares of the oil and gas producer’s stock valued at $1,479,000 after buying an additional 3,864 shares during the last quarter. Finally, SeedSafe Financial LLC increased its stake in Enterprise Products Partners by 12.8% in the 3rd quarter. SeedSafe Financial LLC now owns 14,061 shares of the oil and gas producer’s stock worth $501,000 after acquiring an additional 1,600 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EPD shares. Capital One Financial began coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They issued an “equal weight” rating and a $42.00 target price for the company. Melius Research assumed coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They issued a “hold” rating and a $42.00 price target for the company. The Goldman Sachs Group restated a “neutral” rating on shares of Enterprise Products Partners in a research report on Monday, November 2nd. Stifel Nicolaus started coverage on Enterprise Products Partners in a report on Thursday, September 10th. They issued a “hold” rating and a $40.00 target price for the company. Finally, Truist Financial raised their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, October 30th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.18.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $36.97 on Monday. The firm has a market capitalization of $79.74 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.42 and a beta of 0.48. Enterprise Products Partners L.P. has a 12-month low of $30.67 and a 12-month high of $40.17. The firm has a fifty day moving average price of $37.51 and a 200-day moving average price of $37.37. The company has a current ratio of 0.93, a quick ratio of 0.67 and a debt-to-equity ratio of 1.00.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $17.95 billion during the quarter, compared to analyst estimates of $14.98 billion. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.41%. The firm’s revenue for the quarter was up 49.3% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 3.05 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio is presently 74.17%.

Enterprise Products Partners Profile

Enterprise Products Partners (NYSE: EPD) is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.

The company’s assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.