Enterprise Products Partners L.P. $EPD Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 16.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,251 shares of the oil and gas producer’s stock after purchasing an additional 26,663 shares during the period. Advisors Asset Management Inc.’s holdings in Enterprise Products Partners were worth $5,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Verus Capital Partners LLC increased its stake in Enterprise Products Partners by 1.0% during the 2nd 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 during the period. Next Capital Management LLC increased its position in shares of Enterprise Products Partners by 2.3% during the second quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock worth $454,000 after acquiring an additional 332 shares during the last quarter. Per Stirling Capital Management LLC. increased its position in shares of Enterprise Products Partners by 1.5% during the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after acquiring an additional 339 shares during the last quarter. Tranquility Partners LLC boosted its holdings in Enterprise Products Partners by 1.4% in the second quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after purchasing an additional 339 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in Enterprise Products Partners by 2.1% during the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock valued at $521,000 after purchasing an additional 340 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EPD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Morgan Stanley cut 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 report on Tuesday, August 26th. Scotiabank decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Finally, Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Price Performance

EPD opened at $32.56 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average price is $31.34 and its 200 day moving average price is $31.46. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The firm has a market cap of $70.44 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners declared that its Board of Directors has initiated a stock repurchase plan on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a $0.545 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 6.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 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.