Invesco Ltd. Buys 69,505 Shares of Enterprise Products Partners L.P. $EPD

Invesco Ltd. grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,787,203 shares of the oil and gas producer’s stock after purchasing an additional 69,505 shares during the quarter. Invesco Ltd. owned approximately 1.24% of Enterprise Products Partners worth $830,671,000 as of its most recent SEC filing.

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

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $32.15 on Thursday. The firm has a market capitalization of $69.54 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.48 and a beta of 0.59. 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 L.P. has a 12-month low of $27.77 and a 12-month high of $34.53. The firm has a 50-day moving average price of $31.42 and a 200 day moving average price of $31.48.

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

Enterprise Products Partners announced that its Board of Directors has approved a stock buyback plan on Thursday, October 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to buy 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 business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Analyst Ratings Changes

A number of analysts have issued reports on EPD shares. Scotiabank lowered their target price on 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. Morgan Stanley set a $34.00 target price on shares of Enterprise Products Partners and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Monday. Finally, Stifel Nicolaus increased their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.