MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 351,931 Shares of Enterprise Products Partners L.P. $EPD

by · The Markets Daily

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,355,504 shares of the oil and gas producer’s stock after acquiring an additional 351,931 shares during the quarter. Enterprise Products Partners comprises about 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s investment portfolio, making the stock its 18th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Enterprise Products Partners were worth $352,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its stake in Enterprise Products Partners by 0.3% during the 2nd quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after purchasing an additional 69,505 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Enterprise Products Partners by 1.4% in the second quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after acquiring an additional 252,513 shares during the period. Chickasaw Capital Management LLC increased its position in shares of Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after purchasing an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after purchasing an additional 89,987 shares during the period. Finally, BROOKFIELD Corp ON boosted its holdings in shares of Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after buying an additional 128,545 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.2%

EPD opened at $32.15 on Friday. The company has a market capitalization of $69.55 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.46 and a beta of 0.59. The firm has a 50-day simple moving average of $31.55 and a two-hundred day simple moving average of $31.51. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.53.

Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. During the same period in the previous year, the company posted $0.65 earnings per share. Enterprise Products Partners’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 82.26%.

Enterprise Products Partners announced that its Board of Directors has initiated a share repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EPD. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Scotiabank cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Morgan Stanley set a $34.00 price target on shares of Enterprise Products Partners and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Get Our Latest Research Report on EPD

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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