Enterprise Products Partners L.P. (NYSE:EPD) Position Increased by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 19.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 244,367 shares of the oil and gas producer’s stock after buying an additional 39,166 shares during the period. Enterprise Products Partners makes up about 0.7% of Sunbelt Securities Inc.’s portfolio, making the stock its 29th largest holding. Sunbelt Securities Inc.’s holdings in Enterprise Products Partners were worth $7,114,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. increased its position in Enterprise Products Partners by 6.0% in the second quarter. QRG Capital Management Inc. now owns 9,548 shares of the oil and gas producer’s stock worth $277,000 after buying an additional 541 shares during the period. Sequoia Financial Advisors LLC lifted its position in Enterprise Products Partners by 20.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,215 shares of the oil and gas producer’s stock valued at $702,000 after purchasing an additional 4,084 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Enterprise Products Partners by 4.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 946,629 shares of the oil and gas producer’s stock valued at $27,433,000 after purchasing an additional 36,431 shares during the period. Great Valley Advisor Group Inc. grew its position in Enterprise Products Partners by 14.0% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 93,552 shares of the oil and gas producer’s stock worth $2,711,000 after purchasing an additional 11,455 shares during the last quarter. Finally, Galvin Gaustad & Stein LLC increased its stake in shares of Enterprise Products Partners by 13.4% in the second quarter. Galvin Gaustad & Stein LLC now owns 33,810 shares of the oil and gas producer’s stock valued at $980,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.22 on Wednesday. Enterprise Products Partners L.P. has a twelve month low of $25.96 and a twelve month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average of $30.56 and a two-hundred day moving average of $29.55. The company has a market capitalization of $69.84 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.69 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EPD shares. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. One research 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 company’s stock. According to MarketBeat, Enterprise Products Partners presently has an average rating of “Buy” and an average target price of $34.00.

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.