FORA Capital LLC Purchases New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

FORA Capital LLC purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 55,834 shares of the oil and gas producer’s stock, valued at approximately $1,625,000.

Other institutional investors have also added to or reduced their stakes in the company. Paragon Advisors LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $2,628,000. Thrivent Financial for Lutherans boosted its stake in Enterprise Products Partners by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after purchasing an additional 200,625 shares during the period. Brown Brothers Harriman & Co. boosted its stake in Enterprise Products Partners by 37.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock valued at $1,703,000 after purchasing an additional 16,018 shares during the period. Caprock Group LLC bought a new stake in Enterprise Products Partners in the 3rd quarter valued at $1,943,000. Finally, Atlanta Consulting Group Advisors LLC bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $670,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent analyst reports. Truist Financial upped their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 2.4 %

Shares of Enterprise Products Partners stock opened at $33.66 on Thursday. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $33.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock’s 50-day moving average is $29.92 and its 200 day moving average is $29.28. The firm has a market cap of $72.95 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 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 for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 EPS 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 $0.525 dividend. The ex-dividend date was Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 6.24%. Enterprise Products Partners’s 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.