Summit Asset Management LLC Purchases 2,812 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Summit Asset Management LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 22.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,293 shares of the oil and gas producer’s stock after acquiring an additional 2,812 shares during the period. Summit Asset Management LLC’s holdings in Enterprise Products Partners were worth $445,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Enterprise Products Partners by 1,000.0% in 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 buying an additional 1,000 shares during the period. Assetmark Inc. boosted its stake 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 valued at $35,000 after buying an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of Enterprise Products Partners in the third quarter valued at approximately $36,000. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several recent research reports. 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 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. Truist Financial boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. 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. Finally, StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has an average rating of “Buy” and a consensus target price of $34.00.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE:EPD opened at $30.40 on Thursday. The company has a fifty day moving average of $29.33 and a 200-day moving average of $29.01. The company has a market capitalization of $65.88 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $25.95 and a 52-week high of $30.68.

Enterprise Products Partners (NYSE:EPD) last announced 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). The company had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, equities 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 will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a dividend yield of 6.91%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 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.