Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Magnolia Capital Management Ltd.

Magnolia Capital Management Ltd. lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 15.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,015 shares of the oil and gas producer’s stock after acquiring an additional 1,715 shares during the quarter. Magnolia Capital Management Ltd.’s holdings in Enterprise Products Partners were worth $379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the second quarter worth $25,000. Stephens Consulting LLC acquired a new position in shares of Enterprise Products Partners during the first quarter valued at about $29,000. Palisade Asset Management LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $29,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Finally, DiNuzzo Private Wealth Inc. raised 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 purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.1 %

Shares of NYSE:EPD traded down $0.03 during trading on Tuesday, hitting $28.97. 2,141,388 shares of the company’s stock traded hands, compared to its average volume of 4,289,101. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $29.23 and a 200-day moving average price of $28.96. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The company has a market cap of $62.91 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. During the same period in the previous year, the firm posted $0.57 EPS. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.71 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.35%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EPD shares. Bank of America initiated coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada boosted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One equities research 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, the stock presently has an average rating of “Buy” and an average price target of $33.73.

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.