Alps Advisors Inc. Sells 284,830 Shares of Enterprise Products Partners L.P. $EPD

Alps Advisors Inc. lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,378,826 shares of the oil and gas producer’s stock after selling 284,830 shares during the period. Enterprise Products Partners makes up 7.4% of Alps Advisors Inc.’s holdings, making the stock its 3rd biggest holding. Alps Advisors Inc. owned approximately 1.96% of Enterprise Products Partners worth $1,325,186,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in shares of Enterprise Products Partners by 0.3% during the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after acquiring an additional 69,505 shares during the period. American Century Companies Inc. increased its holdings in Enterprise Products Partners by 1.4% during the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after purchasing an additional 252,513 shares during the period. Energy Income Partners LLC raised its position in Enterprise Products Partners by 14.3% in the 2nd quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after purchasing an additional 1,834,659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Enterprise Products Partners by 3.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,355,504 shares of the oil and gas producer’s stock valued at $352,134,000 after buying an additional 351,931 shares during the period. Finally, Hamlin Capital Management LLC grew its position in shares of Enterprise Products Partners by 1.8% during the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after buying an additional 89,987 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 company insiders.

Trending Headlines about Enterprise Products Partners

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Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $34.93 on Friday. The stock’s 50-day moving average is $32.61 and its two-hundred day moving average is $31.87. 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 1 year low of $27.77 and a 1 year high of $35.55. The firm has a market cap of $75.56 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 2.47 and a beta of 0.60.

Enterprise Products Partners (NYSE:EPDGet Free Report) last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS. 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 approved a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is presently 82.71%.

Analyst Upgrades and Downgrades

EPD has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Enterprise Products Partners in a report on Wednesday. Stifel Nicolaus raised their price objective 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. Jefferies Financial Group reaffirmed a “hold” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday. 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 report on Thursday, December 18th. Finally, Citigroup reaffirmed a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

Check Out Our Latest Stock Analysis on EPD

Enterprise Products Partners Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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