Advisory Services Network LLC Has $7.76 Million Stake in Enterprise Products Partners L.P. $EPD

Advisory Services Network LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 250,307 shares of the oil and gas producer’s stock after selling 22,899 shares during the period. Advisory Services Network LLC’s holdings in Enterprise Products Partners were worth $7,757,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in shares of Enterprise Products Partners by 0.3% in the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after acquiring an additional 69,505 shares during the period. American Century Companies Inc. raised its holdings in 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 worth $578,406,000 after purchasing an additional 252,513 shares during the last quarter. Energy Income Partners LLC lifted its position in shares of Enterprise Products Partners by 14.3% in the 2nd quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after purchasing an additional 1,834,659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 3.2% in the 2nd 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 purchasing an additional 351,931 shares during the period. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Enterprise Products Partners by 1.5% in the 2nd 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 purchasing an additional 81,135 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.4%

Shares of NYSE:EPD opened at $32.10 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.53. The business’s 50 day simple moving average is $31.55 and its two-hundred day simple moving average is $31.51. The firm has a market cap of $69.43 billion, a P/E ratio of 12.11, a PEG ratio of 2.46 and a beta of 0.58.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same period in the previous year, the business posted $0.65 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners announced that its board has approved a share repurchase plan 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 plans are often a sign that the company’s management believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Scotiabank dropped 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 report on Tuesday, November 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Monday, December 1st. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $34.00 price target on Enterprise Products Partners and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

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.