SeaCrest Wealth Management LLC Buys 7,891 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

SeaCrest Wealth Management LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 34.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,801 shares of the oil and gas producer’s stock after acquiring an additional 7,891 shares during the period. SeaCrest Wealth Management LLC’s holdings in Enterprise Products Partners were worth $897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Piscataqua Savings Bank acquired a new position in Enterprise Products Partners in the 3rd quarter valued at $138,000. Applied Capital LLC FL grew its stake in shares of Enterprise Products Partners by 9.2% in the third quarter. Applied Capital LLC FL now owns 61,295 shares of the oil and gas producer’s stock valued at $1,784,000 after acquiring an additional 5,169 shares in the last quarter. Magnus Financial Group LLC increased its position in Enterprise Products Partners by 5.9% during the third quarter. Magnus Financial Group LLC now owns 42,779 shares of the oil and gas producer’s stock worth $1,245,000 after acquiring an additional 2,390 shares during the period. Keystone Wealth Services LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter worth about $419,000. Finally, Empirical Asset Management LLC boosted its holdings in Enterprise Products Partners by 2.8% in the 3rd quarter. Empirical Asset Management LLC now owns 16,491 shares of the oil and gas producer’s stock valued at $480,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $29.18 on Thursday. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month 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 business has a fifty day simple moving average of $29.21 and a 200 day simple moving average of $28.97. The company has a market cap of $63.37 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 (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders 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 dividend yield of 7.20%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s payout ratio is 82.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. 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. Finally, Royal Bank of Canada raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $33.60.

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.