Baer Investment Advisory LLC Lowers Position in Enterprise Products Partners L.P. $EPD

Baer Investment Advisory LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,225 shares of the oil and gas producer’s stock after selling 18,442 shares during the quarter. Enterprise Products Partners accounts for approximately 1.2% of Baer Investment Advisory LLC’s portfolio, making the stock its 25th largest position. Baer Investment Advisory LLC’s holdings in Enterprise Products Partners were worth $1,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Verus Capital Partners LLC increased its holdings in shares of Enterprise Products Partners by 1.0% in the 2nd quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $1,002,000 after buying an additional 328 shares during the last quarter. Next Capital Management LLC grew its position in 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 worth $454,000 after acquiring an additional 332 shares in the last quarter. Tranquility Partners LLC increased its stake in Enterprise Products Partners by 1.4% in the second quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after acquiring an additional 339 shares during the last quarter. Sound Income Strategies LLC raised its position in 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 valued at $521,000 after purchasing an additional 340 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in 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 purchasing an additional 347 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Up 0.8%

Enterprise Products Partners stock opened at $32.88 on Friday. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.53. The company has a market cap of $71.13 billion, a P/E ratio of 12.41, a P/E/G ratio of 2.31 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $32.13 and a two-hundred day simple moving average of $31.65.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. Analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has authorized a stock repurchase program 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 buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 82.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Jefferies Financial Group began coverage on Enterprise Products Partners in a report on Monday, January 12th. They set a “hold” rating and a $33.00 price objective on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a research note on Friday, December 19th. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a research note on Monday, January 5th. Morgan Stanley cut shares of 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. Finally, Stifel Nicolaus upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.

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.