Americana Partners LLC Has $61.79 Million Stake in Enterprise Products Partners L.P. $EPD

Americana Partners LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,992,653 shares of the oil and gas producer’s stock after selling 20,845 shares during the quarter. Enterprise Products Partners accounts for 2.1% of Americana Partners LLC’s investment portfolio, making the stock its 4th largest holding. Americana Partners LLC’s holdings in Enterprise Products Partners were worth $61,792,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Enterprise Products Partners by 7.1% during the 1st quarter. Bank of New York Mellon Corp now owns 314,768 shares of the oil and gas producer’s stock valued at $10,746,000 after purchasing an additional 20,801 shares in the last quarter. Cerity Partners LLC raised its position in Enterprise Products Partners by 0.9% in the 1st quarter. Cerity Partners LLC now owns 474,624 shares of the oil and gas producer’s stock valued at $16,204,000 after purchasing an additional 4,398 shares during the last quarter. Stephens Inc. AR boosted its stake in Enterprise Products Partners by 60.9% in the first quarter. Stephens Inc. AR now owns 459,833 shares of the oil and gas producer’s stock worth $15,699,000 after purchasing an additional 174,121 shares in the last quarter. Finally, Oxbow Advisors LLC grew its holdings in shares of Enterprise Products Partners by 0.7% during the first quarter. Oxbow Advisors LLC now owns 1,358,274 shares of the oil and gas producer’s stock worth $46,371,000 after purchasing an additional 8,978 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.0%

Enterprise Products Partners stock opened at $31.28 on Monday. The firm has a market capitalization of $67.72 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 2.22 and a beta of 0.67. The company’s 50 day simple moving average is $31.30 and its 200 day simple moving average is $31.34. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS 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 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

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

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EPD shares. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Morgan Stanley lowered 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. Scotiabank dropped their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Company Profile

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.