Enterprise Products Partners L.P. $EPD Shares Acquired by R.H. Investment Group LLC

R.H. Investment Group LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 996.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,595 shares of the oil and gas producer’s stock after purchasing an additional 119,595 shares during the quarter. Enterprise Products Partners accounts for approximately 3.6% of R.H. Investment Group LLC’s investment portfolio, making the stock its 15th largest holding. R.H. Investment Group LLC’s holdings in Enterprise Products Partners were worth $4,115,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EPD. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $28,000. Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners during the second quarter worth $29,000. Traub Capital Management LLC purchased a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $31,000. Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners in the third quarter worth about $33,000. Finally, Davis Capital Management acquired a new stake in Enterprise Products Partners during the third quarter worth about $45,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Buying and Selling

In other news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction on Monday, December 29th. The stock was bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $32.72 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The company’s fifty day moving average price is $32.18 and its 200 day moving average price is $31.67. The stock has a market capitalization of $70.77 billion, a P/E ratio of 12.35, a P/E/G ratio of 2.30 and a beta of 0.59. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research 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 of Directors has approved 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 82.26%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating and issued a $36.00 price target (up from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 target price on shares of Enterprise Products Partners in a report on Friday, December 19th. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a report on Thursday, December 18th. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.77.

Enterprise Products Partners Profile

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.