Advisors Asset Management Inc. Acquires 38,660 Shares of Enterprise Products Partners L.P. $EPD

Advisors Asset Management Inc. increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.2% during the third quarter, Holdings Channel reports. The fund owned 229,911 shares of the oil and gas producer’s stock after acquiring an additional 38,660 shares during the quarter. Advisors Asset Management Inc.’s holdings in Enterprise Products Partners were worth $7,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of EPD. Verus Capital Partners LLC lifted its holdings in shares of Enterprise Products Partners by 1.0% during the second 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 in the last quarter. Next Capital Management LLC boosted its holdings in shares of Enterprise Products Partners by 2.3% in the 2nd quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock valued at $454,000 after purchasing an additional 332 shares in the last quarter. Tranquility Partners LLC boosted its stake in Enterprise Products Partners by 1.5% in the third quarter. Tranquility Partners LLC now owns 24,299 shares of the oil and gas producer’s stock valued at $760,000 after buying an additional 355 shares in the last quarter. Patriot Investment Management Group Inc. grew its holdings in shares of Enterprise Products Partners by 1.7% during the 3rd quarter. Patriot Investment Management Group Inc. now owns 21,242 shares of the oil and gas producer’s stock valued at $664,000 after purchasing an additional 360 shares during the last quarter. Finally, Asset Dedication LLC grew its stake in shares of Enterprise Products Partners by 1.0% during the second quarter. Asset Dedication LLC now owns 38,620 shares of the oil and gas producer’s stock worth $1,198,000 after buying an additional 364 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $35.47 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $35.65. The company has a market cap of $76.72 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.50 and a beta of 0.60. The company’s 50 day moving average is $32.79 and its 200 day moving average is $31.95.

Enterprise Products Partners (NYSE:EPD) 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 net margin of 11.05% and a return on equity of 19.43%. The firm had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same period last year, the firm earned $0.74 EPS. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The company 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 $0.55 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

Analyst Ratings Changes

EPD has been the subject of a number of research reports. TD Cowen raised their price objective on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a report on Friday, December 19th. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 price target (up previously from $35.00) on shares of Enterprise Products Partners in a research report on Thursday, February 5th. Finally, Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective for the company. in a research note on Thursday, December 18th. One research 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 stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and an average target price of $36.00.

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.