NorthRock Partners LLC Has $580,000 Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

NorthRock Partners LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 9.2% during the third quarter, HoldingsChannel reports. The firm owned 19,913 shares of the oil and gas producer’s stock after buying an additional 1,679 shares during the quarter. NorthRock Partners LLC’s holdings in Enterprise Products Partners were worth $580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $587,000. GSA Capital Partners LLP grew its position in shares of Enterprise Products Partners by 135.2% in the first quarter. GSA Capital Partners LLP now owns 22,030 shares of the oil and gas producer’s stock valued at $643,000 after purchasing an additional 12,663 shares during the last quarter. Chevy Chase Trust Holdings LLC bought a new position in shares of Enterprise Products Partners in the first quarter worth about $219,000. Rehmann Capital Advisory Group lifted its position in shares of Enterprise Products Partners by 7.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 18,017 shares of the oil and gas producer’s stock worth $526,000 after purchasing an additional 1,272 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Enterprise Products Partners by 7.2% during the 1st quarter. Larson Financial Group LLC now owns 11,045 shares of the oil and gas producer’s stock worth $322,000 after purchasing an additional 746 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $29.30 on Wednesday. The company has a market capitalization of $63.58 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.31 and a beta of 1.04. The company has a 50-day moving average of $29.22 and a 200-day moving average of $28.96. Enterprise Products Partners L.P. has a 52 week low of $25.88 and a 52 week high of $30.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.39% and a net margin of 10.32%. 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 prior year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.7 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.17%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 78.65%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EPD. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target on the stock. Truist Financial boosted their target price on shares of 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 downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.00.

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.