12,298 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Acquired by Cynosure Group LLC

Cynosure Group LLC acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,298 shares of the oil and gas producer’s stock, valued at approximately $358,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth $25,000. Mascoma Wealth Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth about $29,000. DiNuzzo Private Wealth Inc. lifted its holdings 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 worth $32,000 after acquiring an additional 1,000 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd 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 Enterprise Products Partners during the 3rd quarter worth approximately $36,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $33.65 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $25.96 and a fifty-two week high of $33.85. The company has a 50 day simple moving average of $30.01 and a two-hundred day simple moving average of $29.31. The company has a market capitalization of $72.94 billion, a PE ratio of 12.60, a P/E/G ratio of 1.67 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 78.65%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They set a “buy” rating and a $35.00 target price on the stock. StockNews.com cut Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $34.00.

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.