Private Wealth Partners LLC Has $3.32 Million Stake in Enterprise Products Partners L.P. $EPD

Private Wealth Partners LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.5% during the third quarter, HoldingsChannel.com reports. The fund owned 106,150 shares of the oil and gas producer’s stock after buying an additional 16,550 shares during the quarter. Private Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $3,319,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EPD. Winnow Wealth LLC bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $28,000. Traub Capital Management LLC bought a new stake in Enterprise Products Partners in the second quarter worth approximately $31,000. Financial Consulate Inc. acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $33,000. Davis Capital Management acquired a new position in Enterprise Products Partners in the third quarter valued at approximately $45,000. Finally, Kestra Investment Management LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $48,000. 26.07% of the stock is owned by institutional investors.

Insider Activity

In related news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Trading Down 2.4%

NYSE:EPD opened at $33.29 on Friday. 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 one year low of $27.77 and a one year high of $34.53. The company has a market cap of $72.01 billion, a PE ratio of 12.56, a PEG ratio of 2.39 and a beta of 0.59. The firm has a 50-day moving average of $32.41 and a 200-day moving average of $31.75.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. Enterprise Products Partners’s revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners announced that its board has initiated a stock 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors 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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 6.6%. Enterprise Products Partners’s payout ratio is presently 83.02%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Enterprise Products Partners in a research note on Monday, January 12th. They issued a “hold” rating and a $33.00 price objective for the company. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Raymond James Financial lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a report on Monday, January 5th. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.77.

Enterprise Products Partners 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.