Annex Advisory Services LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,240 shares of the oil and gas producer’s stock, valued at approximately $193,000.
Several other large investors also recently added to or reduced their stakes in the stock. FLC Capital Advisors increased its position in shares of Enterprise Products Partners by 19.4% in the third quarter. FLC Capital Advisors now owns 36,319 shares of the oil and gas producer’s stock valued at $624,000 after acquiring an additional 5,900 shares during the last quarter. JBJ Investment Partners LLC increased its position in shares of Enterprise Products Partners by 14.9% in the third quarter. JBJ Investment Partners LLC now owns 66,800 shares of the oil and gas producer’s stock valued at $1,055,000 after acquiring an additional 8,650 shares during the last quarter. Hudock Inc. increased its position in Enterprise Products Partners by 15.3% during the third quarter. Hudock Inc. now owns 5,496 shares of the oil and gas producer’s stock worth $86,000 after buying an additional 730 shares during the last quarter. NuWave Investment Management LLC acquired a new position in Enterprise Products Partners during the third quarter worth approximately $57,000. Finally, Patriot Investment Management Inc. increased its position in Enterprise Products Partners by 7.2% during the third quarter. Patriot Investment Management Inc. now owns 15,009 shares of the oil and gas producer’s stock worth $236,000 after buying an additional 1,007 shares during the last quarter. 32.49% of the stock is currently owned by institutional investors and hedge funds.
NYSE EPD traded down $0.43 on Monday, reaching $17.20. The company had a trading volume of 270,235 shares, compared to its average volume of 9,070,734. The firm has a market cap of $38.54 billion, a price-to-earnings ratio of 8.64 and a beta of 1.42. Enterprise Products Partners L.P. has a fifty-two week low of $10.27 and a fifty-two week high of $29.22. The business has a 50 day moving average of $16.69 and a two-hundred day moving average of $17.66. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.95 and a quick ratio of 0.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Friday, October 30th will be issued a $0.445 dividend. The ex-dividend date is Thursday, October 29th. This represents a $1.78 dividend on an annualized basis and a yield of 10.35%. Enterprise Products Partners’s payout ratio is 82.79%.
In related news, CEO Aj Teague acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average cost of $17.03 per share, for a total transaction of $170,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,958,357 shares of the company’s stock, valued at approximately $33,350,819.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 35,000 shares of company stock valued at $345,300 over the last 90 days. 37.50% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the company. Royal Bank of Canada reissued a “buy” rating and set a $28.00 price target on shares of Enterprise Products Partners in a research report on Thursday, August 6th. Citigroup lowered their price target on Enterprise Products Partners from $31.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Piper Sandler lowered their price target on Enterprise Products Partners from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. ValuEngine cut Enterprise Products Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, October 1st. Finally, Wells Fargo & Company boosted their price target on Enterprise Products Partners from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Enterprise Products Partners has an average rating of “Buy” and an average target price of $24.36.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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