Hilton Capital Management LLC Has $3.88 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Hilton Capital Management LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.2% during the third quarter, HoldingsChannel reports. The fund owned 133,112 shares of the oil and gas producer’s stock after selling 1,644 shares during the quarter. Hilton Capital Management LLC’s holdings in Enterprise Products Partners were worth $3,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pathway Financial Advisers LLC grew its holdings in shares of Enterprise Products Partners by 2,862.8% in the third 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 in the last quarter. Blackstone Inc. grew its position in Enterprise Products Partners by 6.3% during the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock worth $686,712,000 after buying an additional 1,391,370 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Enterprise Products Partners by 2,854.1% in the 3rd quarter. International Assets Investment Management LLC now owns 1,287,318 shares of the oil and gas producer’s stock worth $37,474,000 after buying an additional 1,243,741 shares during the last quarter. Berkley W R Corp raised its position in Enterprise Products Partners by 24.5% during the first quarter. Berkley W R Corp now owns 5,089,794 shares of the oil and gas producer’s stock valued at $148,520,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Distillate Capital Partners LLC grew its position in Enterprise Products Partners by 160,136.7% during the second quarter. Distillate Capital Partners LLC now owns 767,534 shares of the oil and gas producer’s stock valued at $22,243,000 after acquiring an additional 767,055 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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. Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Truist Financial boosted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $31.63 on Wednesday. The stock has a 50-day moving average price of $29.54 and a 200 day moving average price of $29.11. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $31.64. The stock has a market capitalization of $68.56 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.60 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.64%. Enterprise Products Partners’s payout ratio is currently 78.65%.

Enterprise Products Partners 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.