Progeny 3 Inc. Purchases 12,380 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Progeny 3 Inc. increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,842,034 shares of the oil and gas producer’s stock after purchasing an additional 12,380 shares during the quarter. Enterprise Products Partners accounts for about 4.5% of Progeny 3 Inc.’s investment portfolio, making the stock its 8th largest holding. Progeny 3 Inc. owned approximately 0.08% of Enterprise Products Partners worth $53,622,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors increased its holdings in Enterprise Products Partners by 9.5% in the 3rd quarter. Captrust Financial Advisors now owns 536,458 shares of the oil and gas producer’s stock valued at $15,616,000 after purchasing an additional 46,566 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Enterprise Products Partners by 0.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,677,950 shares of the oil and gas producer’s stock valued at $48,845,000 after buying an additional 7,728 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 2.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 148,295 shares of the oil and gas producer’s stock valued at $4,316,000 after buying an additional 3,010 shares during the period. Financial Counselors Inc. lifted its position in Enterprise Products Partners by 2.5% during the 3rd quarter. Financial Counselors Inc. now owns 32,787 shares of the oil and gas producer’s stock worth $954,000 after acquiring an additional 815 shares in the last quarter. Finally, BBR Partners LLC lifted its position in Enterprise Products Partners by 82.8% during the 3rd quarter. BBR Partners LLC now owns 44,150 shares of the oil and gas producer’s stock worth $1,285,000 after acquiring an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America started coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Price Performance

EPD opened at $34.43 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 1-year low of $25.96 and a 1-year high of $34.63. The company has a 50-day moving average of $30.11 and a 200-day moving average of $29.35. The company has a market capitalization of $74.63 billion, a P/E ratio of 12.90, a PEG ratio of 1.74 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. 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 prior year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio 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.