Oppenheimer Asset Management Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,279 shares of the oil and gas producer’s stock after buying an additional 750 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Enterprise Products Partners were worth $1,896,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Fairfield Bush & CO. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $26,000. Mcmillion Capital Management Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $26,000. Pacific Center for Financial Services bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $27,000. Intrepid Capital Management Inc. bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $35,000. Finally, Financial Freedom LLC bought a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $38,000. Institutional investors own 26.54% of the company’s stock.
Enterprise Products Partners Stock Down 0.3 %
NYSE:EPD opened at $26.24 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $56.99 billion, a price-to-earnings ratio of 10.41 and a beta of 1.02. Enterprise Products Partners L.P. has a twelve month low of $24.66 and a twelve month high of $27.95. The stock’s 50 day moving average price is $26.61 and its two-hundred day moving average price is $26.73.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.515 per share. The ex-dividend date is Tuesday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.50. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.85%. Enterprise Products Partners’s payout ratio is presently 81.75%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on EPD shares. Truist Financial cut their price objective on Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Raymond James cut their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company boosted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $31.92.
Insider Buying and Selling
In other news, Director John R. Rutherford bought 10,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was bought at an average price of $25.96 per share, with a total value of $259,600.00. Following the completion of the acquisition, the director now owns 137,423 shares of the company’s stock, valued at $3,567,501.08. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.60% of the stock is owned by insiders.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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