Moors & Cabot Inc. Has $11.39 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

Moors & Cabot Inc. raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,238 shares of the oil and gas producer’s stock after buying an additional 859 shares during the quarter. Moors & Cabot Inc.’s holdings in Enterprise Products Partners were worth $11,389,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in Enterprise Products Partners during the second quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth about $29,000. DiNuzzo Private Wealth Inc. grew its stake in Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares during the period. Assetmark Inc. increased its stake in Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in shares of Enterprise Products Partners during the third quarter valued at about $36,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. Truist Financial upped their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America began coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. StockNews.com lowered Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $34.00.

Enterprise Products Partners Price Performance

NYSE EPD traded up $0.20 during trading hours on Wednesday, reaching $31.83. 111,958 shares of the stock traded hands, compared to its average volume of 4,284,620. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $29.54 and a two-hundred day simple moving average of $29.11. Enterprise Products Partners L.P. has a 1 year low of $25.96 and a 1 year high of $31.87. The company has a market cap of $68.99 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. On average, analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 6.60%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 78.65%.

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.