Jaffetilchin Investment Partners LLC Has $1.05 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Jaffetilchin Investment Partners LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,957 shares of the oil and gas producer’s stock after selling 4,055 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Enterprise Products Partners were worth $1,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $28,000. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the second quarter valued at approximately $29,000. Finally, Traub Capital Management LLC acquired a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $31,000. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Finally, Scotiabank dropped their price objective 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, November 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $32.57 on Tuesday. The stock has a market cap of $70.46 billion, a PE ratio of 12.11, a P/E/G ratio of 2.22 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The business’s 50-day moving average price is $31.32 and its two-hundred day moving average price is $31.45.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a dividend of $0.545 per share. The ex-dividend date was Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 6.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Enterprise Products Partners announced that its board has authorized a share buyback plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase 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 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.