Enterprise Products Partners L.P. $EPD Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,173 shares of the oil and gas producer’s stock after buying an additional 17,691 shares during the quarter. HB Wealth Management LLC’s holdings in Enterprise Products Partners were worth $4,258,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Howard Financial Services LTD. raised its stake in shares of Enterprise Products Partners by 1.3% in the third quarter. Howard Financial Services LTD. now owns 117,443 shares of the oil and gas producer’s stock valued at $3,672,000 after acquiring an additional 1,458 shares in the last quarter. Burford Brothers Inc. raised its position in Enterprise Products Partners by 1.6% in the 3rd quarter. Burford Brothers Inc. now owns 33,195 shares of the oil and gas producer’s stock valued at $1,038,000 after purchasing an additional 524 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Enterprise Products Partners by 4.3% in the 3rd quarter. Spire Wealth Management now owns 27,174 shares of the oil and gas producer’s stock valued at $850,000 after buying an additional 1,120 shares during the period. Park Avenue Securities LLC grew its position in shares of Enterprise Products Partners by 17.0% during the third quarter. Park Avenue Securities LLC now owns 43,318 shares of the oil and gas producer’s stock worth $1,355,000 after buying an additional 6,284 shares in the last quarter. Finally, WP Advisors LLC increased its stake in shares of Enterprise Products Partners by 1.4% during the third quarter. WP Advisors LLC now owns 369,442 shares of the oil and gas producer’s stock worth $11,552,000 after buying an additional 5,171 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.6%

Enterprise Products Partners stock opened at $32.07 on Friday. The company has a market capitalization of $69.37 billion, a P/E ratio of 12.10, a PEG ratio of 2.24 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. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The stock has a 50-day simple moving average of $31.95 and a 200-day simple moving average of $31.60.

Enterprise Products Partners (NYSE:EPD) last released 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). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period last year, the firm earned $0.65 EPS. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.55 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. This represents a $2.20 annualized dividend and a yield of 6.9%. Enterprise Products Partners’s payout ratio is currently 82.26%.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 32.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. 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 note on Friday, October 31st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Monday, December 1st. Citigroup reaffirmed a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Finally, Morgan Stanley lowered Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.27.

Enterprise Products Partners Company 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.