Gagnon Securities LLC Raises Stake in Enterprise Products Partners L.P. $EPD

Gagnon Securities LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 528,752 shares of the oil and gas producer’s stock after acquiring an additional 41,162 shares during the period. Enterprise Products Partners makes up approximately 3.3% of Gagnon Securities LLC’s portfolio, making the stock its 8th largest position. Gagnon Securities LLC’s holdings in Enterprise Products Partners were worth $16,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EPD. Foundations Investment Advisors LLC increased its holdings in shares of Enterprise Products Partners by 5.6% in the 3rd quarter. Foundations Investment Advisors LLC now owns 266,163 shares of the oil and gas producer’s stock worth $8,323,000 after purchasing an additional 14,219 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $167,000. AE Wealth Management LLC increased its holdings in Enterprise Products Partners by 4.1% in the 3rd quarter. AE Wealth Management LLC now owns 45,281 shares of the oil and gas producer’s stock worth $1,416,000 after buying an additional 1,779 shares in the last quarter. Private Wealth Asset Management LLC increased its holdings in Enterprise Products Partners by 9.4% in the 3rd quarter. Private Wealth Asset Management LLC now owns 4,366 shares of the oil and gas producer’s stock worth $137,000 after buying an additional 375 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its position in Enterprise Products Partners by 7.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 44,568 shares of the oil and gas producer’s stock worth $1,394,000 after buying an additional 3,197 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EPD shares. Scotiabank reaffirmed a “sector perform” rating on shares of Enterprise Products Partners in a report on Friday, January 16th. JPMorgan Chase & Co. restated a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Monday, December 1st. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price on the stock. in a report on Monday, January 5th. Jefferies Financial Group started coverage on shares of Enterprise Products Partners in a research note on Monday, January 12th. They set a “hold” rating and a $33.00 target price for the company. Finally, Stifel Nicolaus increased their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.77.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Trading Up 1.8%

Shares of Enterprise Products Partners stock opened at $34.07 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.53. The company’s fifty day simple moving average is $32.39 and its 200-day simple moving average is $31.74. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The stock has a market capitalization of $73.70 billion, a PE ratio of 12.86, a P/E/G ratio of 2.34 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 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 analysts’ expectations of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.5%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Enterprise Products Partners announced that its Board of Directors has initiated a share buyback 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 repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.