Empowered Funds LLC Purchases 22,506 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Empowered Funds LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,654 shares of the oil and gas producer’s stock after acquiring an additional 22,506 shares during the period. Empowered Funds LLC’s holdings in Enterprise Products Partners were worth $5,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Curi RMB Capital LLC lifted its stake in Enterprise Products Partners by 0.5% in the third quarter. Curi RMB Capital LLC now owns 73,828 shares of the oil and gas producer’s stock valued at $2,149,000 after buying an additional 339 shares during the period. Princeton Global Asset Management LLC increased its stake in shares of Enterprise Products Partners by 4.9% in the 3rd quarter. Princeton Global Asset Management LLC now owns 7,510 shares of the oil and gas producer’s stock valued at $219,000 after acquiring an additional 350 shares in the last quarter. Strategic Wealth Partners Ltd. lifted its position in shares of Enterprise Products Partners by 3.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 9,731 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 353 shares during the period. Cadence Bank boosted its stake in Enterprise Products Partners by 0.7% during the first quarter. Cadence Bank now owns 52,428 shares of the oil and gas producer’s stock worth $1,530,000 after acquiring an additional 365 shares in the last quarter. Finally, McAdam LLC grew its holdings in Enterprise Products Partners by 1.3% in the second quarter. McAdam LLC now owns 28,670 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 372 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EPD shares. 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 reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial boosted their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Price Performance

EPD opened at $31.09 on Monday. The firm’s fifty day moving average price is $29.44 and its two-hundred day moving average price is $29.07. The company has a market capitalization of $67.39 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.60 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 1 year low of $25.95 and a 1 year high of $31.33.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous 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. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently declared 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 of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a yield of 6.75%. Enterprise Products Partners’s dividend payout ratio (DPR) 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.