Enterprise Products Partners L.P. $EPD Shares Acquired by Stokes Family Office LLC

Stokes Family Office LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 38.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,703 shares of the oil and gas producer’s stock after purchasing an additional 8,463 shares during the period. Stokes Family Office LLC’s holdings in Enterprise Products Partners were worth $952,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EPD. Brighton Jones LLC lifted its holdings in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the period. Bank of New York Mellon Corp lifted its holdings in Enterprise Products Partners by 7.1% in the 1st quarter. Bank of New York Mellon Corp now owns 314,768 shares of the oil and gas producer’s stock valued at $10,746,000 after acquiring an additional 20,801 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Enterprise Products Partners by 6,192.9% during the 1st quarter. Penserra Capital Management LLC now owns 11,516 shares of the oil and gas producer’s stock valued at $392,000 after purchasing an additional 11,333 shares in the last quarter. Phillips Financial Management LLC grew its stake in shares of Enterprise Products Partners by 18.4% in the 1st quarter. Phillips Financial Management LLC now owns 9,922 shares of the oil and gas producer’s stock worth $339,000 after purchasing an additional 1,542 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Enterprise Products Partners by 0.9% in the 1st quarter. Cerity Partners LLC now owns 474,624 shares of the oil and gas producer’s stock worth $16,204,000 after purchasing an additional 4,398 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 1.0%

NYSE EPD opened at $31.28 on Friday. The company has a market capitalization of $67.72 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. 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 firm’s fifty day simple moving average is $31.30 and its 200-day simple moving average is $31.33.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.07). The firm 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 business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $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 announced that its board has initiated 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Analyst Ratings Changes

A number of analysts recently weighed in 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. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Scotiabank dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners Company 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.