Enterprise Products Partners L.P. $EPD is Fractal Investments LLC’s 5th Largest Position

Fractal Investments LLC cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,837,044 shares of the oil and gas producer’s stock after selling 100,199 shares during the quarter. Enterprise Products Partners comprises approximately 8.3% of Fractal Investments LLC’s investment portfolio, making the stock its 5th biggest holding. Fractal Investments LLC’s holdings in Enterprise Products Partners were worth $57,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter worth about $29,000. Traub Capital Management LLC purchased a new stake in Enterprise Products Partners in the second quarter valued at approximately $31,000. Financial Consulate Inc. acquired a new position in Enterprise Products Partners in the 3rd quarter worth approximately $33,000. Finally, Davis Capital Management acquired a new position in Enterprise Products Partners in the 3rd quarter worth approximately $45,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EPD has been the subject of several research reports. Raymond James Financial cut shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a research note on Monday, January 5th. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Monday, December 1st. Morgan Stanley lowered Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective for the company. in a research note on Thursday, December 18th. Finally, Jefferies Financial Group started coverage on Enterprise Products Partners in a research note on Monday. They issued a “hold” rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $35.08.

Enterprise Products Partners Trading Up 0.1%

Shares of Enterprise Products Partners stock opened at $32.06 on Tuesday. The firm has a 50-day simple moving average of $31.98 and a two-hundred day simple moving average of $31.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The company has a market cap of $69.36 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 2.25 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. Enterprise Products Partners’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is currently 82.26%.

Enterprise Products Partners announced that its board has approved a share repurchase program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the purchase, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.60% of the stock is owned by company insiders.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.