Advisory Services Network LLC Decreases Stake in Enterprise Products Partners L.P. $EPD

Advisory Services Network LLC lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 8.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 250,307 shares of the oil and gas producer’s stock after selling 22,899 shares during the quarter. Advisory Services Network LLC’s holdings in Enterprise Products Partners were worth $7,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC grew its stake in Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the period. Nuveen LLC bought a new position in Enterprise Products Partners during the first quarter valued at about $22,284,000. Russell Investments Group Ltd. increased its holdings in Enterprise Products Partners by 1.2% during the first quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer’s stock worth $1,106,000 after buying an additional 372 shares during the last quarter. Boston Partners raised its position in Enterprise Products Partners by 5.9% in the first quarter. Boston Partners now owns 175,903 shares of the oil and gas producer’s stock worth $6,005,000 after acquiring an additional 9,853 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its stake in Enterprise Products Partners by 7.6% in the first quarter. Tocqueville Asset Management L.P. now owns 24,699 shares of the oil and gas producer’s stock valued at $843,000 after acquiring an additional 1,740 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.10 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The stock has a market cap of $69.43 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 2.46 and a beta of 0.58. The stock has a fifty day moving average of $31.55 and a 200-day moving average of $31.51.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners declared that its Board of Directors has approved a stock buyback plan on Thursday, October 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

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

Wall Street Analyst Weigh In

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

About Enterprise Products Partners

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.