Enterprise Products Partners L.P. $EPD Shares Purchased by ZEGA Investments LLC

ZEGA Investments LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 46.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,560 shares of the oil and gas producer’s stock after buying an additional 7,755 shares during the quarter. ZEGA Investments LLC’s holdings in Enterprise Products Partners were worth $762,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $34,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $48,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on EPD shares. Morgan Stanley cut their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Scotiabank dropped their price target 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. Finally, Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Trading Up 1.0%

NYSE:EPD opened at $31.28 on Friday. The firm has a market capitalization of $67.72 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.22 and a beta of 0.67. The business has a 50 day simple moving average of $31.30 and a 200 day simple moving average of $31.33. 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 12-month low of $27.77 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its 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 firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

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 paid a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

Enterprise Products Partners announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Enterprise Products Partners

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.