Bridgewater Advisors Inc. Purchases New Shares in Enterprise Products Partners L.P. $EPD

Bridgewater Advisors Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, Holdings Channel reports. The firm acquired 23,545 shares of the oil and gas producer’s stock, valued at approximately $729,000.

A number of other institutional investors have also modified their holdings of the stock. Invesco Ltd. lifted its stake in Enterprise Products Partners by 0.3% during the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after purchasing an additional 69,505 shares during the last quarter. American Century Companies Inc. grew its position in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after buying an additional 252,513 shares during the last quarter. Energy Income Partners LLC raised its stake in Enterprise Products Partners by 14.3% during the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after acquiring an additional 1,834,659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Products Partners by 3.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,355,504 shares of the oil and gas producer’s stock worth $352,134,000 after acquiring an additional 351,931 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Enterprise Products Partners by 8.6% in the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer’s stock worth $130,778,000 after acquiring an additional 331,066 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction dated 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 directly owned 173,586 shares in the company, valued at $5,570,374.74. This represents a 9.46% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $36.32 on Friday. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $37.31. The stock’s fifty day moving average is $33.36 and its 200-day moving average is $32.20. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The firm has a market capitalization of $78.57 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.60.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.44 billion. During the same quarter in the prior year, the firm posted $0.74 EPS. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. Equities analysts anticipate 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 share buyback plan on Thursday, October 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a dividend of $0.55 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, January 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.1%. Enterprise Products Partners’s payout ratio is 82.71%.

Analyst Ratings Changes

EPD has been the subject of several recent research reports. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 target price (up from $35.00) on shares of Enterprise Products Partners in a report on Thursday, February 5th. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Morgan Stanley lowered 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. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus price target 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.