Enterprise Products Partners L.P. $EPD Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 14.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,173 shares of the oil and gas producer’s stock after purchasing an additional 17,691 shares during the quarter. HB Wealth Management LLC’s holdings in Enterprise Products Partners were worth $4,258,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. grew its position in Enterprise Products Partners by 0.3% in 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 buying an additional 69,505 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Enterprise Products Partners by 1.4% in the 2nd 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. Energy Income Partners LLC boosted its holdings in shares of Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after acquiring an additional 1,834,659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Enterprise Products Partners by 3.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,355,504 shares of the oil and gas producer’s stock worth $352,134,000 after acquiring an additional 351,931 shares during the period. Finally, Chickasaw Capital Management LLC raised its holdings in Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after purchasing an additional 81,135 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The shares were bought at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $32.07 on Friday. The stock has a fifty day moving average price of $31.95 and a 200 day moving average price of $31.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The stock has a market cap of $69.37 billion, a PE ratio of 12.10, a P/E/G ratio of 2.24 and a beta of 0.59. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53.

Enterprise Products Partners (NYSE:EPD) last posted 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). The firm had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. Sell-side analysts forecast 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 has initiated a share repurchase plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.55 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 6.9%. Enterprise Products Partners’s payout ratio is 82.26%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. 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. Raymond James Financial cut Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a report on Friday, December 19th. Finally, 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 report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.27.

Enterprise Products Partners Company Profile

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.