20,606 Shares of Enterprise Products Partners L.P. $EPD Acquired by Leo Wealth LLC

Leo Wealth LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, HoldingsChannel.com reports. The fund acquired 20,606 shares of the oil and gas producer’s stock, valued at approximately $734,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Apollon Wealth Management LLC boosted its position in shares of Enterprise Products Partners by 4.0% in the third quarter. Apollon Wealth Management LLC now owns 115,971 shares of the oil and gas producer’s stock worth $4,130,000 after buying an additional 4,420 shares during the period. Mainsail Financial Group LLC raised its holdings in shares of Enterprise Products Partners by 12.8% during the 3rd quarter. Mainsail Financial Group LLC now owns 7,047 shares of the oil and gas producer’s stock valued at $251,000 after buying an additional 800 shares during the period. Probity Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 3.4% during the 3rd quarter. Probity Advisors Inc. now owns 8,585 shares of the oil and gas producer’s stock valued at $306,000 after buying an additional 283 shares during the period. Evanson Financial LLC raised its holdings in shares of Enterprise Products Partners by 2.8% during the 3rd quarter. Evanson Financial LLC now owns 76,273 shares of the oil and gas producer’s stock valued at $2,716,000 after buying an additional 2,073 shares during the period. Finally, Citizens Financial Group Inc. RI lifted its position in Enterprise Products Partners by 7.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 29,053 shares of the oil and gas producer’s stock worth $1,035,000 after acquiring an additional 2,130 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.3%

Shares of EPD opened at $36.98 on Tuesday. Enterprise Products Partners L.P. has a one year low of $30.02 and a one year high of $40.17. The stock has a 50-day moving average price of $37.73 and a 200 day moving average price of $37.11. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The company has a market capitalization of $79.87 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.32 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same period in the previous year, the business earned $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 60.8% compared to the same quarter last year. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 3.10 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Stifel Nicolaus began coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They set a “hold” rating and a $40.00 price objective on the stock. TD Cowen reissued a “hold” rating and set a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Morgan Stanley restated 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. Finally, Capital One Financial assumed coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 price target for the company. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.12.

Enterprise Products Partners Company Profile

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.