PFG Investments LLC Boosts Stock Holdings in Enterprise Products Partners L.P. $EPD

PFG Investments LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,556 shares of the oil and gas producer’s stock after purchasing an additional 16,483 shares during the quarter. PFG Investments LLC’s holdings in Enterprise Products Partners were worth $4,677,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Enterprise Products Partners by 8.2% during the 2nd quarter. Park Avenue Securities LLC now owns 37,034 shares of the oil and gas producer’s stock worth $1,148,000 after acquiring an additional 2,798 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Enterprise Products Partners by 2.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 101,560 shares of the oil and gas producer’s stock valued at $3,149,000 after acquiring an additional 2,718 shares during the last quarter. Register Financial Advisors LLC grew its holdings in shares of Enterprise Products Partners by 14.9% in the second quarter. Register Financial Advisors LLC now owns 23,070 shares of the oil and gas producer’s stock valued at $715,000 after purchasing an additional 3,000 shares in the last quarter. Finally, American National Bank & Trust increased its position in Enterprise Products Partners by 60.5% in the second quarter. American National Bank & Trust now owns 34,519 shares of the oil and gas producer’s stock worth $1,070,000 after purchasing an additional 13,010 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 32.60% of the stock is currently owned by company insiders.

Enterprise Products Partners Stock Performance

EPD stock opened at $33.03 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.53. The firm has a market cap of $71.44 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 2.33 and a beta of 0.59. The business’s fifty day simple moving average is $32.26 and its two-hundred day simple moving average is $31.70. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.

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

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

Enterprise Products Partners Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Enterprise Products Partners in a report on Monday, January 12th. They issued a “hold” rating and a $33.00 target price on the stock. Citigroup restated a “buy” rating and set a $36.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Wolfe Research cut Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.77.

Enterprise Products Partners Company 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.