Horizon Kinetics Asset Management LLC Has $3.79 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Horizon Kinetics Asset Management LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 96.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,172 shares of the oil and gas producer’s stock after purchasing an additional 63,914 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Enterprise Products Partners were worth $3,789,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EPD. O Shaughnessy Asset Management LLC increased its position in Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after acquiring an additional 3,770 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in Enterprise Products Partners by 1.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 205,140 shares of the oil and gas producer’s stock worth $5,986,000 after purchasing an additional 2,679 shares during the last quarter. Waverly Advisors LLC lifted its holdings in Enterprise Products Partners by 45.6% during the 1st quarter. Waverly Advisors LLC now owns 108,441 shares of the oil and gas producer’s stock worth $3,164,000 after buying an additional 33,986 shares in the last quarter. Invenomic Capital Management LP bought a new position in Enterprise Products Partners in the 1st quarter valued at $8,327,000. Finally, Icon Wealth Advisors LLC increased its stake in shares of Enterprise Products Partners by 23.5% in the 1st quarter. Icon Wealth Advisors LLC now owns 544,921 shares of the oil and gas producer’s stock valued at $15,901,000 after buying an additional 103,810 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EPD shares. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. 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. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Bank of America started coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Finally, Truist Financial raised their price objective 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Stock Up 0.9 %

Shares of EPD stock opened at $33.12 on Monday. The company has a market capitalization of $71.79 billion, a price-to-earnings ratio of 12.29, a P/E/G ratio of 1.69 and a beta of 1.04. Enterprise Products Partners L.P. has a 12-month low of $25.96 and a 12-month high of $33.17. The firm has a fifty day moving average of $29.72 and a 200-day moving average of $29.20. 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 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

About Enterprise Products Partners

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.