Advisors Asset Management Inc. Buys 38,660 Shares of Enterprise Products Partners L.P. $EPD

Advisors Asset Management Inc. grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,911 shares of the oil and gas producer’s stock after acquiring an additional 38,660 shares during the quarter. Advisors Asset Management Inc.’s holdings in Enterprise Products Partners were worth $7,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners during the second quarter worth about $28,000. Traub Capital Management LLC bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $31,000. Financial Consulate Inc. purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at $33,000. Davis Capital Management bought a new position in Enterprise Products Partners in the 3rd quarter worth about $45,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Enterprise Products Partners by 80.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,545 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 690 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Wednesday, January 14th. Citigroup reissued a “buy” rating and issued a $39.00 target price (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. TD Cowen boosted their price objective on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, February 4th. Raymond James Financial cut Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price for the company. in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.00.

Insider Buying and Selling

In other news, Director John R. Rutherford bought 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 approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $35.47 on Thursday. The firm’s 50 day moving average price is $32.79 and its two-hundred day moving average price is $31.95. The stock has a market cap of $76.72 billion, a PE ratio of 13.33, a PEG ratio of 2.50 and a beta of 0.60. 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 52-week low of $27.77 and a 52-week high of $35.65.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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 net margin of 11.05% and a return on equity of 19.43%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. As a group, analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business 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 $0.55 dividend. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a yield of 6.2%. Enterprise Products Partners’s payout ratio is presently 82.71%.

Enterprise Products Partners declared that its board has authorized a stock repurchase plan on Thursday, October 30th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About Enterprise Products Partners

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.