Americana Partners LLC Acquires 12,205 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Americana Partners LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the third quarter, Holdings Channel.com reports. The firm owned 1,713,649 shares of the oil and gas producer’s stock after acquiring an additional 12,205 shares during the period. Enterprise Products Partners accounts for about 3.4% of Americana Partners LLC’s portfolio, making the stock its 2nd largest position. Americana Partners LLC’s holdings in Enterprise Products Partners were worth $49,884,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EPD. Hantz Financial Services Inc. bought a new position in shares of Enterprise Products Partners in the 2nd quarter valued at about $25,000. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the first quarter valued at approximately $29,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its position in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Finally, MFA Wealth Advisors LLC bought a new position in Enterprise Products Partners in the 2nd quarter valued at about $37,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.8 %

Enterprise Products Partners stock traded up $0.23 during midday trading on Friday, reaching $28.89. 1,656,172 shares of the stock traded hands, compared to its average volume of 4,279,552. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The firm has a market cap of $62.70 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.33 and a beta of 1.03. The company has a 50-day simple moving average of $29.23 and a two-hundred day simple moving average of $28.94. Enterprise Products Partners L.P. has a 12-month low of $25.88 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.39%. The firm had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts expect that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s payout ratio is currently 78.65%.

Analysts Set New Price Targets

Several equities analysts have commented on EPD shares. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a 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 report on Monday. One analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $33.73.

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.