Baer Investment Advisory LLC Sells 18,442 Shares of Enterprise Products Partners L.P. $EPD

Baer Investment Advisory LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 28.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,225 shares of the oil and gas producer’s stock after selling 18,442 shares during the quarter. Enterprise Products Partners comprises 1.2% of Baer Investment Advisory LLC’s holdings, making the stock its 25th biggest position. Baer Investment Advisory LLC’s holdings in Enterprise Products Partners were worth $1,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Brighton Jones LLC boosted its stake in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of Enterprise Products Partners by 9.6% during the 2nd quarter. Procyon Advisors LLC now owns 7,444 shares of the oil and gas producer’s stock valued at $231,000 after acquiring an additional 650 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Enterprise Products Partners by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,163,897 shares of the oil and gas producer’s stock worth $36,674,000 after acquiring an additional 47,829 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Enterprise Products Partners in the second quarter worth $18,316,000. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of Enterprise Products Partners by 0.7% during the second quarter. Miller Howard Investments Inc. NY now owns 3,358,259 shares of the oil and gas producer’s stock valued at $104,140,000 after purchasing an additional 24,373 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The stock was purchased at an average cost of $32.09 per share, with a total value of $481,350.00. Following the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $32.88 on Friday. The firm has a market capitalization of $71.13 billion, a P/E ratio of 12.41, a PEG ratio of 2.31 and a beta of 0.59. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The business has a fifty day moving average price of $32.13 and a 200-day moving average price of $31.65.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same period last year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its board has approved a stock buyback 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.55 per share. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPD. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a report on Monday, December 1st. Jefferies Financial Group began coverage on shares of Enterprise Products Partners in a research report on Monday, January 12th. They issued a “hold” rating and a $33.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price for the company. in a research report on Thursday, December 18th. Finally, Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.77.

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.