Meixler Investment Management Ltd. Increases Stock Position in Enterprise Products Partners L.P. $EPD

Meixler Investment Management Ltd. raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 14.0% in the third quarter, Holdings Channel reports. The firm owned 124,775 shares of the oil and gas producer’s stock after acquiring an additional 15,300 shares during the quarter. Enterprise Products Partners accounts for 2.4% of Meixler Investment Management Ltd.’s holdings, making the stock its 10th biggest holding. Meixler Investment Management Ltd.’s holdings in Enterprise Products Partners were worth $3,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Quantum Financial Planning Services Inc. purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $310,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Enterprise Products Partners by 7.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after purchasing an additional 9,979 shares in the last quarter. Tred Avon Family Wealth LLC purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at $1,015,000. Tectonic Advisors LLC increased its holdings in Enterprise Products Partners by 10.0% in the 3rd quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after buying an additional 61,669 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth about $657,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Wednesday. Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Wednesday, January 14th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $35.00 price target on shares of Enterprise Products Partners in a report on Monday, December 1st. Finally, Raymond James Financial cut 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 report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Read Our Latest Report on EPD

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction dated Monday, December 29th. The shares were purchased at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the transaction, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Stock Down 0.4%

Shares of EPD stock opened at $34.93 on Monday. 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 $35.55. The company’s fifty day moving average price is $32.61 and its 200-day moving average price is $31.87. The company has a market capitalization of $75.56 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 2.46 and a beta of 0.60.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The business had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is currently 82.71%.

Enterprise Products Partners announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners News Summary

Here are the key news stories impacting Enterprise Products Partners this week:

Enterprise Products Partners Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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