Paradigm Asset Management Co. LLC Buys Shares of 9,400 Enterprise Products Partners L.P. $EPD

Paradigm Asset Management Co. LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,400 shares of the oil and gas producer’s stock, valued at approximately $291,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Marco Investment Management LLC boosted its stake in shares of Enterprise Products Partners by 0.9% in the second quarter. Marco Investment Management LLC now owns 529,013 shares of the oil and gas producer’s stock valued at $16,405,000 after purchasing an additional 4,658 shares during the period. Chancellor Financial Group WB LP increased its stake in Enterprise Products Partners by 12.6% during the 2nd quarter. Chancellor Financial Group WB LP now owns 7,130 shares of the oil and gas producer’s stock worth $221,000 after buying an additional 800 shares during the period. First Eagle Investment Management LLC lifted its holdings in Enterprise Products Partners by 12.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,852,080 shares of the oil and gas producer’s stock worth $57,433,000 after buying an additional 200,193 shares in the last quarter. Smart Money Group LLC boosted its position in Enterprise Products Partners by 4.0% in the 2nd quarter. Smart Money Group LLC now owns 30,113 shares of the oil and gas producer’s stock valued at $934,000 after buying an additional 1,166 shares during the period. Finally, Modera Wealth Management LLC boosted its position in Enterprise Products Partners by 10.0% in the 2nd quarter. Modera Wealth Management LLC now owns 19,422 shares of the oil and gas producer’s stock valued at $602,000 after buying an additional 1,767 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Morgan Stanley cut their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Finally, Scotiabank decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Price Performance

Shares of EPD opened at $31.28 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The firm has a fifty day moving average price of $31.30 and a 200 day moving average price of $31.34. The stock has a market cap 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 (NYSE:EPD) last announced its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter last year, the business posted $0.65 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 dividend yield of 7.0%. Enterprise Products Partners’s payout ratio is 82.26%.

Enterprise Products Partners announced that its board has authorized a share repurchase program on Thursday, October 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

About Enterprise Products Partners

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.