Fortem Financial Group LLC Acquires 5,419 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Fortem Financial Group LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 25.1% in the third quarter, HoldingsChannel reports. The firm owned 26,988 shares of the oil and gas producer’s stock after purchasing an additional 5,419 shares during the period. Fortem Financial Group LLC’s holdings in Enterprise Products Partners were worth $786,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in Enterprise Products Partners in the second quarter worth $29,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. boosted its position in shares of Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Enterprise Products Partners in the 3rd quarter valued at about $36,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Down 0.7 %

Enterprise Products Partners stock opened at $32.22 on Wednesday. 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 stock has a market cap of $69.84 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.69 and a beta of 1.08. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $34.63. The firm’s 50-day simple moving average is $30.56 and its 200 day simple moving average is $29.55.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue 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. Research analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS 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 6.52%. 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

Several research analysts have issued reports on EPD shares. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Finally, Bank of America began 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 for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Buy” and a consensus price target of $34.00.

Enterprise Products Partners Company 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.