Tred Avon Family Wealth LLC Buys New Shares in Enterprise Products Partners L.P. $EPD

Tred Avon Family Wealth LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,474 shares of the oil and gas producer’s stock, valued at approximately $1,015,000.

Other large investors have also modified their holdings of the company. Verus Capital Partners LLC increased its position in Enterprise Products Partners by 1.0% during the second quarter. Verus Capital Partners LLC now owns 32,311 shares of the oil and gas producer’s stock worth $1,002,000 after purchasing an additional 328 shares during the last quarter. Next Capital Management LLC boosted its holdings in Enterprise Products Partners by 2.3% in the second quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock valued at $454,000 after acquiring an additional 332 shares during the last quarter. Tranquility Partners LLC grew its position in Enterprise Products Partners by 1.4% during the second quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock valued at $743,000 after acquiring an additional 339 shares during the period. Sound Income Strategies LLC increased its stake in Enterprise Products Partners by 2.1% during the second quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after acquiring an additional 340 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Enterprise Products Partners by 1.8% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after purchasing an additional 347 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $32.88 on Friday. The firm has a 50-day moving average of $32.13 and a two-hundred day moving average of $31.65. 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 stock has a market cap of $71.13 billion, a P/E ratio of 12.41, a PEG ratio of 2.31 and a beta of 0.59. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.53.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 business had revenue of $12.02 billion during 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 was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 EPS. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is currently 83.02%.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EPD shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 target price on shares of Enterprise Products Partners in a report on Friday, December 19th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price on the stock. in a research note on Monday, January 5th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Finally, Scotiabank restated a “sector perform” rating on shares of Enterprise Products Partners in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.77.

Insider Buying and Selling

In related news, Director John R. Rutherford acquired 15,000 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the acquisition, the director directly owned 173,586 shares in the company, valued at approximately $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 can be accessed through this link. 32.60% of the stock is owned by company insiders.

Enterprise Products Partners Profile

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.