Thompson Davis & CO. Inc. Takes Position in Enterprise Products Partners L.P. $EPD

Thompson Davis & CO. Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,277 shares of the oil and gas producer’s stock, valued at approximately $226,000.

A number of other large investors also recently bought and sold shares of EPD. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners during the first quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners in the first quarter valued at approximately $34,000. Finally, Pandora Wealth Inc. acquired a new position in Enterprise Products Partners during the first quarter worth $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $31.76 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The stock has a market capitalization of $68.71 billion, a PE ratio of 11.81, a PEG ratio of 2.22 and a beta of 0.67. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a 50-day simple moving average of $31.27 and a 200-day simple moving average of $31.35.

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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same period last year, the business earned $0.65 EPS. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

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

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is 82.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EPD. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Scotiabank lowered their price objective 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. Finally, Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One research 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 company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $36.00.

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.