Enterprise Products Partners L.P. $EPD Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 725,211 shares of the oil and gas producer’s stock after selling 2,889 shares during the period. Jennison Associates LLC’s holdings in Enterprise Products Partners were worth $22,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Per Stirling Capital Management LLC. raised its holdings in shares of Enterprise Products Partners by 1.5% during the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after purchasing an additional 339 shares during the period. Tranquility Partners LLC raised its holdings in shares of 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 worth $743,000 after purchasing an additional 339 shares during the period. Sound Income Strategies LLC raised its holdings in shares of 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 purchasing an additional 340 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Enterprise Products Partners by 1.8% during the second 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. Finally, Russell Investments Group Ltd. grew its position in shares of Enterprise Products Partners by 1.2% during the first quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer’s stock worth $1,106,000 after acquiring an additional 372 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EPD has been the subject of several recent research reports. Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Stifel Nicolaus lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Scotiabank reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Finally, TD Cowen began coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners Trading Up 1.4%

Shares of NYSE:EPD opened at $31.55 on Friday. The company has a 50 day moving average of $31.44 and a 200-day moving average of $31.33. The firm has a market cap of $68.31 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.22 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Thursday, October 30th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The company 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 19.81% and a net margin of 10.71%.The company’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 81.04%.

Enterprise Products Partners announced that its Board of Directors has authorized a share repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.