Sanctuary Advisors LLC Purchases 40,432 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Sanctuary Advisors LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,989 shares of the oil and gas producer’s stock after acquiring an additional 40,432 shares during the quarter. Sanctuary Advisors LLC’s holdings in Enterprise Products Partners were worth $14,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Paragon Advisors LLC acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $2,628,000. FMR LLC increased its position in Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after buying an additional 1,225,988 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Enterprise Products Partners by 5.2% in the third quarter. Thrivent Financial for Lutherans now owns 4,072,866 shares of the oil and gas producer’s stock valued at $118,561,000 after buying an additional 200,625 shares during the period. Brookfield Corp ON lifted its position in shares of Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock valued at $138,639,000 after buying an additional 278,892 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Enterprise Products Partners by 37.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 58,510 shares of the oil and gas producer’s stock worth $1,703,000 after acquiring an additional 16,018 shares during the period. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EPD shares. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Price Performance

Shares of Enterprise Products Partners stock opened at $32.20 on Friday. The company has a 50-day simple moving average of $30.79 and a two-hundred day simple moving average of $29.64. Enterprise Products Partners L.P. has a twelve month low of $26.02 and a twelve month high of $34.63. The stock has a market capitalization of $69.80 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend 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%.

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.