WP Advisors LLC Has $11.30 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

WP Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% in the second quarter, HoldingsChannel.com reports. The firm owned 364,271 shares of the oil and gas producer’s stock after buying an additional 9,914 shares during the quarter. Enterprise Products Partners comprises approximately 3.1% of WP Advisors LLC’s holdings, making the stock its 9th largest holding. WP Advisors LLC’s holdings in Enterprise Products Partners were worth $11,296,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EPD. Brooklyn Investment Group purchased a new stake in Enterprise Products Partners during the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the first quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners during the second quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the first quarter worth about $34,000. Finally, Pandora Wealth Inc. purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $48,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $31.76 on Friday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The firm has a market capitalization of $68.71 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.22 and a beta of 0.67. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $31.27 and a two-hundred day simple moving average of $31.35.

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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts forecast 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 has authorized a stock repurchase program 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 reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EPD shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Scotiabank dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Morgan Stanley decreased their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

About Enterprise Products Partners

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.