Enterprise Products Partners L.P. $EPD Shares Purchased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• Cushing Asset Management increased its Enterprise Products Partners stake by 15.1% in the third quarter, adding 236,000 shares to own 1.80 million shares valued at approximately $64.2 million.
• Analyst sentiment remains cautious: EPD has an overall “Hold” rating and a consensus price target of $40.12, with several firms recently maintaining neutral or underweight ratings.
• Enterprise Products Partners reported quarterly EPS of $0.84, beating estimates of $0.75, and announced a quarterly dividend of $0.56 per share, representing a 6.1% annualized yield.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 15.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,801,500 shares of the oil and gas producer's stock after purchasing an additional 236,000 shares during the quarter. Enterprise Products Partners comprises about 2.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 13th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.08% of Enterprise Products Partners worth $64,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. RFG Advisory LLC boosted its position in Enterprise Products Partners by 1.3% during the second quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer's stock worth $795,000 after purchasing an additional 268 shares in the last quarter. Sigma Planning Corp grew its holdings in Enterprise Products Partners by 0.8% in the second quarter. Sigma Planning Corp now owns 35,270 shares of the oil and gas producer's stock valued at $1,297,000 after purchasing an additional 270 shares during the last quarter. Everest Financial Group LLC grew its holdings in Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer's stock valued at $298,000 after purchasing an additional 271 shares during the last quarter. Renasant Bank increased its position in shares of Enterprise Products Partners by 1.3% in the second quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer's stock valued at $778,000 after buying an additional 271 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Enterprise Products Partners by 0.4% in the third quarter. Farther Finance Advisors LLC now owns 75,188 shares of the oil and gas producer's stock valued at $2,677,000 after buying an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EPD. Melius Research started coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a "hold" rating and a $42.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, October 8th. TD Cowen restated a "hold" rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Capital One Financial initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 target price for the company. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $36.98 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a fifty-two week low of $30.02 and a fifty-two week high of $40.17. The business has a fifty day moving average of $37.73 and a 200-day moving average of $37.11. The stock has a market cap of $79.87 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The business's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, analysts predict that Enterprise Products Partners L.P. will post 3.10 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners's dividend payout ratio is 77.78%.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.

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