Benjamin Edwards Inc. Grows Stock Holdings in Enterprise Products Partners L.P. $EPD

Benjamin Edwards Inc. boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 189.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,264 shares of the oil and gas producer’s stock after buying an additional 15,867 shares during the quarter. Benjamin Edwards Inc.’s holdings in Enterprise Products Partners were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPD. Verus Capital Partners LLC grew its holdings in shares of Enterprise Products Partners by 1.0% in 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 acquiring an additional 328 shares during the period. Next Capital Management LLC boosted its position in 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 purchasing an additional 332 shares in the last quarter. Tranquility Partners LLC grew 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. Sound Income Strategies LLC increased its position in shares of Enterprise Products Partners by 2.1% in the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock valued at $521,000 after buying an additional 340 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Enterprise Products Partners by 1.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after buying an additional 347 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the transaction, the director owned 173,586 shares in the company, valued at $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $32.33 on Wednesday. The stock has a fifty day moving average price of $32.03 and a 200 day moving average price of $31.62. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.53. The firm has a market capitalization of $69.94 billion, a P/E ratio of 12.20, a PEG ratio of 2.25 and a beta of 0.59. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period in the prior year, the company earned $0.65 EPS. The company’s revenue was down 12.7% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

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

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Jefferies Financial Group started coverage on Enterprise Products Partners in a research note on Monday. They issued a “hold” rating and a $33.00 target price on the stock. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.08.

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.