Enterprise Products Partners L.P. $EPD Stock Holdings Increased by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Enterprise Products Partners stake by 6.8% in the third quarter, adding nearly 3 million shares to hold about 46.6 million shares worth approximately $1.66 billion.
• Enterprise Products Partners reported quarterly EPS of $0.75, matching estimates, while revenue rose 49.3% year over year to $17.95 billion, above the $14.98 billion consensus.
• The company announced a quarterly dividend of $0.56 per share, equivalent to a 6.1% annualized yield. Analysts’ consensus rating is “Hold,” with an average price target of $40.18.

Alps Advisors Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,611,995 shares of the oil and gas producer's stock after acquiring an additional 2,956,939 shares during the period. Enterprise Products Partners accounts for about 7.3% of Alps Advisors Inc.'s investment portfolio, making the stock its 4th biggest holding. Alps Advisors Inc. owned about 2.16% of Enterprise Products Partners worth $1,659,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. RFG Advisory LLC grew its stake in Enterprise Products Partners by 1.3% in the second quarter. RFG Advisory LLC now owns 21,636 shares of the oil and gas producer's stock valued at $795,000 after purchasing an additional 268 shares in the last quarter. Asset One Wealth Management LLC lifted its position in Enterprise Products Partners by 3.8% in the 3rd quarter. Asset One Wealth Management LLC now owns 7,400 shares of the oil and gas producer's stock worth $264,000 after buying an additional 268 shares during the last quarter. Sigma Planning Corp lifted 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 worth $1,297,000 after buying an additional 270 shares during the period. Everest Financial Group LLC lifted its position in Enterprise Products Partners by 3.6% during 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 period. Finally, Renasant Bank lifted its holdings in Enterprise Products Partners by 1.3% in the 2nd quarter. Renasant Bank now owns 21,160 shares of the oil and gas producer's stock worth $778,000 after purchasing an additional 271 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $36.97 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $79.84 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.32 and a beta of 0.48. Enterprise Products Partners L.P. has a 52-week low of $30.67 and a 52-week high of $40.17. The firm's 50-day moving average price is $37.51 and its two-hundred day moving average price is $37.37.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The oil and gas producer reported $0.75 earnings per share for the quarter, meeting analysts' consensus estimates of $0.75. Enterprise Products Partners had a net margin of 10.24% and a return on equity of 21.50%. The firm had revenue of $17.95 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business's revenue was up 49.3% on a year-over-year basis. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.12 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th. Enterprise Products Partners's dividend payout ratio (DPR) is currently 74.17%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 31st. JPMorgan Chase & Co. lowered 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 research note on Thursday, October 8th. Morgan Stanley reissued an "underweight" rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Finally, Melius Research initiated coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They issued a "hold" rating and a $42.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Hold" and an average target price of $40.18.

About Enterprise Products Partners

Enterprise Products Partners NYSE: EPD is a North American midstream energy company that gathers, processes, transports, stores and exports energy-related commodities. Its operations support the movement of products from producing regions to refineries, petrochemical plants and other customers.

The company's assets include pipelines, natural gas processing plants, storage facilities, and terminals. It handles natural gas, natural gas liquids (NGLs), crude oil, refined products and petrochemicals, and provides services such as NGL fractionation and transportation.

Founded in 1968, Enterprise Products Partners is headquartered in Houston, Texas.

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