Enterprise Products Partners L.P. $EPD Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC reduced its position in Enterprise Products Partners L.P. (NYSE:EPD) by 17.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 43,502 shares of the oil and gas producer’s stock after selling 9,003 shares during the quarter. AE Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,349,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $34,000. Finally, Pandora Wealth Inc. acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EPD. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Scotiabank decreased their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Stock Up 0.3%

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 company has a market cap of $68.30 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The business’s fifty day moving average is $31.27 and its two-hundred day moving average is $31.35.

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 analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Enterprise Products Partners announced that its Board of Directors has initiated a stock repurchase plan 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 buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Company Profile

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.