Freestone Capital Holdings LLC Boosts Stake in Enterprise Products Partners L.P. $EPD

Freestone Capital Holdings LLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 32.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,495 shares of the oil and gas producer’s stock after buying an additional 2,342 shares during the period. Freestone Capital Holdings LLC’s holdings in Enterprise Products Partners were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EPD. ING Groep NV purchased a new stake in Enterprise Products Partners during the first quarter worth $71,052,000. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after buying an additional 1,717,768 shares during the last quarter. Northside Capital Management LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $47,628,000. Finally, Commerce Bank purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $23,833,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on EPD shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Scotiabank decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Morgan Stanley dropped their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $30.18 on Wednesday. The firm has a market capitalization of $65.34 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The business has a fifty day moving average of $31.36 and a 200 day moving average of $31.33. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, October 30th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business’s revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Enterprise Products Partners declared that its board has authorized a share buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board 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.