Enterprise Products Partners L.P. $EPD Shares Sold by Reaves W H & Co. Inc.

Reaves W H & Co. Inc. cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,493,940 shares of the oil and gas producer’s stock after selling 100,000 shares during the quarter. Enterprise Products Partners comprises about 1.9% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 20th largest position. Reaves W H & Co. Inc. owned approximately 0.16% of Enterprise Products Partners worth $109,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Enterprise Products Partners by 2.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 140,631 shares of the oil and gas producer’s stock valued at $4,361,000 after acquiring an additional 3,575 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after acquiring an additional 9,979 shares during the period. CWM LLC boosted its stake in shares of Enterprise Products Partners by 23.8% during the 2nd quarter. CWM LLC now owns 121,883 shares of the oil and gas producer’s stock worth $3,780,000 after acquiring an additional 23,409 shares in the last quarter. Finally, Almanack Investment Partners LLC. grew its holdings in shares of Enterprise Products Partners by 82.8% in the 2nd quarter. Almanack Investment Partners LLC. now owns 45,164 shares of the oil and gas producer’s stock worth $1,401,000 after acquiring an additional 20,463 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated Monday, December 29th. The stock was acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the transaction, 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 SEC, which is available at the SEC website. 32.60% of the stock is owned by company insiders.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $35.18 on Tuesday. The stock has a market capitalization of $76.11 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.46 and a beta of 0.60. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $35.55. 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 firm’s 50-day moving average is $32.66 and its two-hundred day moving average is $31.90.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The business had revenue of $13.79 billion for the quarter, compared to the consensus estimate of $12.44 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities 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 repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on EPD. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, February 4th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Finally, Morgan Stanley cut 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. 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 issued a Sell rating to the company. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus target price of $36.00.

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.