Enterprise Products Partners L.P. $EPD Holdings Raised by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 49.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 529,737 shares of the oil and gas producer’s stock after purchasing an additional 176,432 shares during the quarter. iA Global Asset Management Inc.’s holdings in Enterprise Products Partners were worth $16,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after acquiring an additional 1,834,659 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Enterprise Products Partners by 119.4% in the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after purchasing an additional 1,313,976 shares during the period. Eagle Global Advisors LLC grew its position in Enterprise Products Partners by 42.2% during the 3rd quarter. Eagle Global Advisors LLC now owns 2,931,052 shares of the oil and gas producer’s stock worth $91,654,000 after purchasing an additional 870,103 shares in the last quarter. HRT Financial LP raised its stake in Enterprise Products Partners by 118.1% during the 2nd quarter. HRT Financial LP now owns 1,528,580 shares of the oil and gas producer’s stock valued at $47,401,000 after purchasing an additional 827,780 shares during the period. Finally, Prospera Financial Services Inc lifted its holdings in shares of Enterprise Products Partners by 213.0% in the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock valued at $30,395,000 after purchasing an additional 666,967 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.5%

EPD opened at $33.15 on Friday. The company has a market capitalization of $71.71 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 2.31 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The business has a 50-day moving average of $32.24 and a 200-day moving average of $31.69.

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

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.6%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 82.26%.

Enterprise Products Partners declared that its Board of Directors has approved a share buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EPD shares. Morgan Stanley downgraded Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a report on Thursday, December 18th. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research report on Friday, December 19th. Scotiabank reiterated a “sector perform” rating on shares of Enterprise Products Partners in a report on Friday, January 16th. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Jefferies Financial Group assumed coverage on shares of Enterprise Products Partners in a research report on Monday, January 12th. They set a “hold” rating and a $33.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.77.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased 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 of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The transaction was disclosed in a document filed 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.