Turtle Creek Wealth Advisors LLC Buys 230,134 Shares of Enterprise Products Partners L.P. $EPD

Turtle Creek Wealth Advisors LLC lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 149.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,829 shares of the oil and gas producer’s stock after purchasing an additional 230,134 shares during the quarter. Enterprise Products Partners accounts for approximately 1.1% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 26th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $12,002,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its stake in Enterprise Products Partners by 0.3% during the 2nd quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock valued at $830,671,000 after purchasing an additional 69,505 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Enterprise Products Partners by 1.4% during the second quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after buying an additional 252,513 shares during the last quarter. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 14.3% during the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after acquiring an additional 1,834,659 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enterprise Products Partners by 3.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,355,504 shares of the oil and gas producer’s stock valued at $352,134,000 after acquiring an additional 351,931 shares in the last quarter. Finally, Hamlin Capital Management LLC raised its holdings in Enterprise Products Partners by 1.8% in the 2nd quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after acquiring an additional 89,987 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock opened at $32.88 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53. The company has a market cap of $71.13 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 2.31 and a beta of 0.59. The stock’s fifty day moving average price is $32.16 and its 200-day moving average price is $31.66.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. This represents a $2.20 annualized dividend and a dividend yield of 6.7%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent analyst reports. Morgan Stanley downgraded Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a research note on Thursday, December 18th. Citigroup reaffirmed a “buy” rating and set a $36.00 price target (up from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a report on Wednesday, January 14th. Scotiabank reissued a “sector perform” rating on shares of Enterprise Products Partners in a research report on Friday. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.