Allen Mooney & Barnes Investment Advisors LLC Buys 153,396 Shares of Enterprise Products Partners L.P. $EPD

Allen Mooney & Barnes Investment Advisors LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 44.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 495,026 shares of the oil and gas producer’s stock after acquiring an additional 153,396 shares during the quarter. Enterprise Products Partners comprises approximately 2.4% of Allen Mooney & Barnes Investment Advisors LLC’s portfolio, making the stock its 15th largest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $15,479,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Verus Capital Partners LLC increased its stake in Enterprise Products Partners by 1.0% during the 2nd quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock valued at $1,002,000 after purchasing an additional 328 shares in the last quarter. Next Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 2.3% in the second quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock valued at $454,000 after buying an additional 332 shares in the last quarter. Tranquility Partners LLC grew its holdings in shares of Enterprise Products Partners by 1.4% during the second quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after buying an additional 339 shares during the last quarter. Sound Income Strategies LLC increased its position in shares of Enterprise Products Partners by 2.1% during the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after acquiring an additional 340 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Enterprise Products Partners by 1.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $32.09 on Thursday. The company’s 50 day simple moving average is $31.70 and its two-hundred day simple moving average is $31.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53. The stock has a market capitalization of $69.42 billion, a PE ratio of 12.11, a P/E/G ratio of 2.45 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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 19.40% and a net margin of 10.92%.The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter last year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners announced that its Board of Directors has authorized a share buyback 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 an indication that the company’s board believes its shares are 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 issued a $0.545 dividend. The ex-dividend date was Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EPD. Morgan Stanley cut Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research report on Thursday, December 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Monday, December 1st. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.64.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.