Glenmede Trust Co. NA Purchases 64,968 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Glenmede Trust Co. NA grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 735,233 shares of the oil and gas producer’s stock after buying an additional 64,968 shares during the period. Glenmede Trust Co. NA’s holdings in Enterprise Products Partners were worth $21,403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Hantz Financial Services Inc. bought a new position in Enterprise Products Partners during the second quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $29,000. DiNuzzo Private Wealth Inc. lifted its position 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 worth $32,000 after acquiring an additional 1,000 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after acquiring an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Enterprise Products Partners in the third quarter valued at $36,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EPD. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial upped their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a 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 report on Monday, October 28th. Bank of America started coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.66 on Thursday. Enterprise Products Partners L.P. has a 1-year low of $25.96 and a 1-year high of $33.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The business has a 50 day moving average of $29.92 and a 200 day moving average of $29.28. The company has a market capitalization of $72.95 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.67 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 business had revenue of $13.78 billion for 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%. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company 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. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.24%. Enterprise Products Partners’s dividend 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.