Cwm LLC Has $4.63 Million Position in Enterprise Products Partners L.P. $EPD

Cwm LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 21.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 148,027 shares of the oil and gas producer’s stock after acquiring an additional 26,144 shares during the quarter. Cwm LLC’s holdings in Enterprise Products Partners were worth $4,629,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Brighton Jones LLC grew its stake in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares during the period. OLD Mission Capital LLC bought a new position in Enterprise Products Partners during the first quarter worth about $378,000. EP Wealth Advisors LLC boosted its holdings in Enterprise Products Partners by 0.4% during the first quarter. EP Wealth Advisors LLC now owns 183,410 shares of the oil and gas producer’s stock worth $6,262,000 after buying an additional 766 shares during the last quarter. AlphaQ Advisors LLC grew its position in shares of Enterprise Products Partners by 4.5% during the 1st quarter. AlphaQ Advisors LLC now owns 95,785 shares of the oil and gas producer’s stock worth $3,270,000 after buying an additional 4,163 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Enterprise Products Partners by 33.7% in the 1st quarter. Advisors Asset Management Inc. now owns 164,588 shares of the oil and gas producer’s stock valued at $5,619,000 after acquiring an additional 41,519 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $32.03 on Thursday. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.53. The company has a market cap of $69.29 billion, a P/E ratio of 12.09, a P/E/G ratio of 2.45 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The stock’s 50-day simple moving average is $31.83 and its 200 day simple moving average is $31.56.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly 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 analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company posted $0.65 earnings per share. As a group, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

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

Enterprise Products Partners declared that its board has authorized a stock 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a report on Thursday, December 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.64.

Insiders Place Their Bets

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.