Enterprise Products Partners L.P. $EPD Shares Bought by RR Advisors LLC

by · The Cerbat Gem

RR Advisors LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 8.2% during the second quarter, Holdings Channel.com reports. The firm owned 912,000 shares of the oil and gas producer’s stock after acquiring an additional 69,000 shares during the period. Enterprise Products Partners accounts for approximately 6.8% of RR Advisors LLC’s holdings, making the stock its 6th largest position. RR Advisors LLC’s holdings in Enterprise Products Partners were worth $28,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ING Groep NV acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $71,052,000. JPMorgan Chase & Co. grew its position in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC acquired a new position in Enterprise Products Partners in the second quarter valued at $47,628,000. Prospera Financial Services Inc increased its position in shares of Enterprise Products Partners by 213.0% during the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after purchasing an additional 666,967 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $22,284,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EPD shares. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Scotiabank lowered their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price target on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.73.

Read Our Latest Stock Report on Enterprise Products Partners

Enterprise Products Partners Stock Down 0.7%

EPD stock opened at $32.51 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $31.40 and its 200 day moving average price is $31.48. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.56. The company has a market cap of $70.34 billion, a P/E ratio of 12.09, a P/E/G ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.545 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 6.7%. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Enterprise Products Partners announced that its board has approved a stock repurchase program on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Company Profile

(Free Report)

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.

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