Avalon Trust Co Purchases 6,000 Shares of Enterprise Products Partners L.P. $EPD

Avalon Trust Co raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 157.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,800 shares of the oil and gas producer’s stock after purchasing an additional 6,000 shares during the period. Avalon Trust Co’s holdings in Enterprise Products Partners were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after buying an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC grew its position in Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after acquiring an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC raised its stake in shares of Enterprise Products Partners by 1.8% during the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after acquiring an additional 89,987 shares in the last quarter. BROOKFIELD Corp ON raised its stake in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after acquiring an additional 128,545 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after acquiring an additional 1,717,768 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on EPD. Morgan Stanley reduced their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Scotiabank lowered their target price on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Price Performance

EPD opened at $31.57 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market capitalization of $68.30 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The stock’s 50 day moving average price is $31.27 and its 200-day moving average price is $31.35. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released 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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter last year, the firm earned $0.65 EPS. The business’s revenue was down 12.7% 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 declared that its board has authorized a share repurchase program on Thursday, October 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.