Fisher Asset Management LLC Sells 18,409 Shares of Enterprise Products Partners L.P. $EPD

Fisher Asset Management LLC reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 49.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,921 shares of the oil and gas producer’s stock after selling 18,409 shares during the quarter. Fisher Asset Management LLC’s holdings in Enterprise Products Partners were worth $587,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the 1st quarter worth about $27,000. Wealth Preservation Advisors LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $28,000. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners during the second quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. Finally, Traub Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter worth approximately $31,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.61 on Friday. The company’s fifty day moving average is $31.46 and its 200-day moving average is $31.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.53. The company has a market capitalization of $70.55 billion, a PE ratio of 12.31, a P/E/G ratio of 2.49 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EPD shares. Morgan Stanley set a $34.00 price objective on Enterprise Products Partners and gave the company an “equal weight” rating in a research report on Tuesday. Scotiabank lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Monday, December 1st. Finally, Stifel Nicolaus increased their price target 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, seven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

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.