Paragon Advisors LLC Acquires New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

Paragon Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, HoldingsChannel reports. The fund bought 90,270 shares of the oil and gas producer’s stock, valued at approximately $2,628,000.

A number of other hedge funds have also recently made changes to their positions in the company. Hantz Financial Services Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at $29,000. DiNuzzo Private Wealth Inc. raised its position in Enterprise Products Partners by 1,000.0% during the 3rd 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 last quarter. Assetmark Inc. raised its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $36,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enterprise Products Partners Price Performance

EPD stock opened at $31.09 on Friday. The firm has a 50 day simple moving average of $29.44 and a two-hundred day simple moving average of $29.05. Enterprise Products Partners L.P. has a one year low of $25.95 and a one year high of $31.33. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. The stock has a market cap of $67.39 billion, a PE ratio of 11.64, a P/E/G ratio of 1.57 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 company had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.75%. Enterprise Products Partners’s dividend payout ratio is presently 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.