Private Wealth Partners LLC Purchases 16,550 Shares of Enterprise Products Partners L.P. $EPD

Private Wealth Partners LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 18.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,150 shares of the oil and gas producer’s stock after acquiring an additional 16,550 shares during the period. Private Wealth Partners LLC’s holdings in Enterprise Products Partners were worth $3,319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EPD. Argent Advisors Inc. lifted its stake in Enterprise Products Partners by 3.9% during the third quarter. Argent Advisors Inc. now owns 53,574 shares of the oil and gas producer’s stock worth $1,675,000 after purchasing an additional 2,000 shares during the last quarter. Everett Harris & Co. CA raised its holdings in shares of Enterprise Products Partners by 0.9% during the 3rd quarter. Everett Harris & Co. CA now owns 83,905 shares of the oil and gas producer’s stock worth $2,624,000 after buying an additional 750 shares in the last quarter. Gagnon Securities LLC raised its holdings in shares of Enterprise Products Partners by 8.4% during the 3rd quarter. Gagnon Securities LLC now owns 528,752 shares of the oil and gas producer’s stock worth $16,534,000 after buying an additional 41,162 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Enterprise Products Partners by 5.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 266,163 shares of the oil and gas producer’s stock worth $8,323,000 after buying an additional 14,219 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Enterprise Products Partners in the third quarter valued at about $167,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction 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 acquisition, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Down 2.4%

Shares of NYSE:EPD opened at $33.29 on Friday. The firm has a market cap of $72.01 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.39 and a beta of 0.59. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.53. The business has a fifty day simple moving average of $32.41 and a 200 day simple moving average of $31.75. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.

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 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 during the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts predict 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 authorized a stock buyback program on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.55 dividend. The ex-dividend date is Friday, January 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 6.6%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 83.02%.

Analyst Upgrades and Downgrades

Several research analysts have commented on EPD shares. Citigroup reissued a “buy” rating and set a $36.00 target price (up previously from $35.00) on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a research note on Monday, January 5th. Finally, Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research note on Wednesday, January 14th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.77.

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.