HFG Advisors Inc. Purchases 12,250 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

HFG Advisors Inc. boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 125.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,050 shares of the oil and gas producer’s stock after buying an additional 12,250 shares during the period. HFG Advisors Inc.’s holdings in Enterprise Products Partners were worth $642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Blackstone Inc. boosted its holdings in shares of Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Reaves W H & Co. Inc. lifted its stake in Enterprise Products Partners by 1,368.4% in the first quarter. Reaves W H & Co. Inc. now owns 1,468,440 shares of the oil and gas producer’s stock worth $42,849,000 after purchasing an additional 1,368,440 shares during the last quarter. Berkley W R Corp increased its holdings in shares of Enterprise Products Partners by 24.5% in the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock worth $148,520,000 after buying an additional 1,000,000 shares during the period. Distillate Capital Partners LLC lifted its stake in shares of Enterprise Products Partners by 160,136.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after acquiring an additional 767,055 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its stake in Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock worth $470,091,000 after purchasing an additional 741,237 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada upped their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial increased their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Bank of America started coverage on Enterprise Products Partners in a research note on Thursday. They issued 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $33.73.

Enterprise Products Partners Stock Performance

EPD traded up $0.13 during mid-day trading on Thursday, reaching $29.32. 450,039 shares of the company traded hands, compared to its average volume of 4,291,917. The stock has a market capitalization of $63.67 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a 52-week low of $25.61 and a 52-week high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average price is $29.21 and its 200-day moving average price is $28.97.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the prior year, the company posted $0.57 EPS. The firm’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.71 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. The ex-dividend date is Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.16%. Enterprise Products Partners’s payout ratio is currently 82.35%.

About Enterprise Products Partners

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.