Miller Howard Investments Inc. NY Sells 277,873 Shares of Enterprise Products Partners L.P. $EPD

Miller Howard Investments Inc. NY cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,080,386 shares of the oil and gas producer’s stock after selling 277,873 shares during the quarter. Enterprise Products Partners comprises approximately 2.9% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 2nd biggest position. Miller Howard Investments Inc. NY owned 0.14% of Enterprise Products Partners worth $96,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPD. Avion Wealth raised its stake in shares of Enterprise Products Partners by 2.9% in the 3rd quarter. Avion Wealth now owns 56,409 shares of the oil and gas producer’s stock valued at $1,763,000 after acquiring an additional 1,600 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Enterprise Products Partners by 8.6% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 37,903 shares of the oil and gas producer’s stock valued at $1,185,000 after purchasing an additional 3,005 shares during the last quarter. Sterling Financial Planning Inc. purchased a new stake in Enterprise Products Partners in the third quarter valued at approximately $234,000. Valmark Advisers Inc. lifted its stake in Enterprise Products Partners by 16.5% during the third quarter. Valmark Advisers Inc. now owns 9,947 shares of the oil and gas producer’s stock worth $311,000 after purchasing an additional 1,406 shares in the last quarter. Finally, Pasadena Private Wealth LLC lifted its stake in Enterprise Products Partners by 5.5% during the third quarter. Pasadena Private Wealth LLC now owns 50,136 shares of the oil and gas producer’s stock worth $1,568,000 after purchasing an additional 2,595 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $32.07 on Friday. 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 market capitalization of $69.37 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.25 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The company’s fifty day moving average price is $31.95 and its 200 day moving average price is $31.60.

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 (EPS) 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 analyst estimates of $11.83 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was down 12.7% on a year-over-year basis. As a group, sell-side analysts predict 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 authorized a share buyback program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a $0.55 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. Citigroup reiterated a “buy” rating and issued a $36.00 price objective (up previously from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research report on Friday, December 19th. Raymond James Financial lowered shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research note on Monday, January 5th. Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective for the company. in a research note on Thursday, December 18th. Finally, UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $35.27.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.