Pekin Hardy Strauss Inc. Has $5 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Pekin Hardy Strauss Inc. lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,818 shares of the oil and gas producer’s stock after buying an additional 1,900 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Enterprise Products Partners were worth $5,002,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blackstone Inc. lifted its stake in shares of Enterprise Products Partners by 6.3% in the 1st quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in shares of Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after acquiring an additional 741,237 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of Enterprise Products Partners by 2,862.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 7,756,006 shares of the oil and gas producer’s stock valued at $225,777,000 after acquiring an additional 7,494,224 shares during the period. Chickasaw Capital Management LLC boosted its stake in Enterprise Products Partners by 1.6% during the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock worth $159,901,000 after acquiring an additional 87,930 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in Enterprise Products Partners by 9.0% in the second quarter. Westwood Holdings Group Inc. now owns 5,404,012 shares of the oil and gas producer’s stock worth $156,608,000 after purchasing an additional 447,768 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.5 %

NYSE:EPD opened at $32.82 on Friday. Enterprise Products Partners L.P. has a 52 week low of $25.96 and a 52 week high of $32.85. The firm has a 50-day moving average price of $29.72 and a two-hundred day moving average price of $29.19. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $71.14 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 1.67 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, equities 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 declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of research analyst reports. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. 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. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $34.00.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.