Beacon Pointe Advisors LLC Purchases New Shares in Enterprise Products Partners L.P. $EPD

Beacon Pointe Advisors LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, Holdings Channel.com reports. The fund purchased 583,077 shares of the oil and gas producer’s stock, valued at approximately $18,081,000.

A number of other institutional investors have also recently bought and sold shares of EPD. RR Advisors LLC increased its holdings in Enterprise Products Partners by 8.2% during the second quarter. RR Advisors LLC now owns 912,000 shares of the oil and gas producer’s stock worth $28,286,000 after buying an additional 69,000 shares during the last quarter. NBW Capital LLC grew its holdings in Enterprise Products Partners by 2.7% during the 2nd quarter. NBW Capital LLC now owns 432,097 shares of the oil and gas producer’s stock valued at $13,399,000 after buying an additional 11,225 shares in the last quarter. M&T Bank Corp increased its holdings in Enterprise Products Partners by 1.7% during the 2nd quarter. M&T Bank Corp now owns 591,532 shares of the oil and gas producer’s stock worth $18,343,000 after acquiring an additional 9,684 shares during the period. JRM Investment Counsel LLC raised its position in shares of Enterprise Products Partners by 9.4% in the second quarter. JRM Investment Counsel LLC now owns 523,012 shares of the oil and gas producer’s stock worth $16,219,000 after buying an additional 45,029 shares in the last quarter. Finally, Samjo Management LLC increased its stake in Enterprise Products Partners by 38.5% in the 2nd quarter. Samjo Management LLC now owns 45,150 shares of the oil and gas producer’s stock worth $1,400,000 after acquiring an additional 12,550 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $32.51 on Tuesday. The stock has a market cap of $70.34 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.56. The business has a 50-day simple moving average of $31.40 and a two-hundred day simple moving average of $31.48. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

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

Enterprise Products Partners announced that its Board of Directors has authorized a stock buyback program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on EPD. Stifel Nicolaus raised 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 decreased their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Morgan Stanley dropped their price objective 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.73.

Enterprise Products Partners Company 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.