Enterprise Products Partners L.P. $EPD Stake Lessened by GM Advisory Group LLC

GM Advisory Group LLC reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,485 shares of the oil and gas producer’s stock after selling 3,770 shares during the period. GM Advisory Group LLC’s holdings in Enterprise Products Partners were worth $2,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Choreo LLC boosted its stake in shares of Enterprise Products Partners by 11.2% during the 2nd quarter. Choreo LLC now owns 148,896 shares of the oil and gas producer’s stock valued at $4,617,000 after buying an additional 15,033 shares during the period. Maia Wealth LLC raised its holdings in shares of Enterprise Products Partners by 35.0% during the second quarter. Maia Wealth LLC now owns 12,828 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 3,324 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Enterprise Products Partners by 1.8% during the second quarter. J.W. Cole Advisors Inc. now owns 141,710 shares of the oil and gas producer’s stock worth $4,394,000 after acquiring an additional 2,529 shares in the last quarter. FourThought Financial Partners LLC grew its stake in Enterprise Products Partners by 7.2% in the second quarter. FourThought Financial Partners LLC now owns 155,823 shares of the oil and gas producer’s stock valued at $4,832,000 after purchasing an additional 10,419 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in Enterprise Products Partners by 16.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 191,251 shares of the oil and gas producer’s stock worth $5,931,000 after purchasing an additional 26,663 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enterprise Products Partners Price Performance

NYSE:EPD opened at $32.56 on Thursday. The company has a fifty day moving average price of $31.34 and a 200 day moving average price of $31.46. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The stock has a market cap of $70.44 billion, a P/E ratio of 12.10, a PEG ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results 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). The firm had revenue of $12.02 billion for 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%. The company’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

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

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Enterprise Products Partners 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.