Enterprise Products Partners L.P. $EPD Position Decreased by Jennison Associates LLC

Jennison Associates LLC decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 725,211 shares of the oil and gas producer’s stock after selling 2,889 shares during the period. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $22,489,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EPD. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Enterprise Products Partners by 7.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock worth $4,703,000 after buying an additional 9,979 shares during the period. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners in the first quarter worth about $290,000. Corigliano Investment Advisers LLC acquired a new position in shares of Enterprise Products Partners in the first quarter worth about $4,384,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Enterprise Products Partners by 1.6% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock worth $60,702,000 after buying an additional 31,652 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Enterprise Products Partners in the first quarter worth about $22,284,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 1.4%

NYSE EPD opened at $31.55 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $68.31 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The firm’s fifty day simple moving average is $31.44 and its 200-day simple moving average is $31.33.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The company 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 19.81% and a net margin of 10.71%.The company’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. Enterprise Products Partners’s payout ratio is 81.04%.

Enterprise Products Partners announced that its board has initiated a share buyback 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 purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. TD Cowen started coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a “hold” rating and a $33.00 price target for the company. Finally, Stifel Nicolaus decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.82.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.