69,819 Enterprise Products Partners L.P. $EPD Shares Acquired by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 127.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 124,618 shares of the oil and gas producer’s stock after purchasing an additional 69,819 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Enterprise Products Partners were worth $4,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Energy Income Partners LLC purchased a new position in Enterprise Products Partners in the second quarter worth $508,461,000. Bank of America Corp DE bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $416,553,000. BlackRock Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $255,325,000. Berkley W R Corp purchased a new stake in shares of Enterprise Products Partners in the second quarter worth $250,887,000. Finally, Miller Howard Investments Inc. NY increased its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Miller Howard Investments Inc. NY now owns 3,160,206 shares of the oil and gas producer’s stock valued at $119,582,000 after acquiring an additional 48,087 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Stifel Nicolaus assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, September 10th. They set a “hold” rating and a $40.00 target price on the stock. Morgan Stanley reissued an “underweight” rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. JPMorgan Chase & Co. cut their price objective on Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. Finally, Melius Research initiated coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set a “hold” rating and a $42.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus target price of $40.12.

Enterprise Products Partners Price Performance

Shares of EPD opened at $36.58 on Thursday. The company’s fifty day moving average price is $37.80 and its 200-day moving average price is $37.80. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The firm has a market capitalization of $78.99 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. Enterprise Products Partners L.P. has a 1-year low of $30.02 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue was up 60.8% compared to the same quarter last year. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 3.10 EPS for the current year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.