Boston Partners Lowers Stock Position in Enterprise Products Partners L.P. $EPD

Boston Partners lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 47.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,818 shares of the oil and gas producer’s stock after selling 83,085 shares during the quarter. Boston Partners’ holdings in Enterprise Products Partners were worth $2,878,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners in the second quarter valued at approximately $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. Finally, Traub Capital Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.6%

EPD stock opened at $32.73 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average of $31.38 and a two-hundred day moving average of $31.48. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The company has a market cap of $70.81 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last issued its 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). The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners announced that its Board of Directors has initiated a share repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a dividend of $0.545 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.7%. Enterprise Products Partners’s payout ratio is 82.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of 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 decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Morgan Stanley decreased 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 analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners 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.