First Eagle Investment Management LLC Acquires 200,193 Shares of Enterprise Products Partners L.P. $EPD

First Eagle Investment Management LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,852,080 shares of the oil and gas producer’s stock after purchasing an additional 200,193 shares during the period. First Eagle Investment Management LLC’s holdings in Enterprise Products Partners were worth $57,433,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EPD. Next Capital Management LLC increased its holdings in shares of 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 worth $454,000 after buying an additional 332 shares during the period. Per Stirling Capital Management LLC. grew its position in Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after acquiring an additional 339 shares during the last quarter. Tranquility Partners LLC grew its position in Enterprise Products Partners by 1.4% during the 2nd quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock worth $743,000 after acquiring an additional 339 shares during the last quarter. Sound Income Strategies LLC increased its stake in Enterprise Products Partners by 2.1% in the 2nd 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. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Enterprise Products Partners by 1.8% in 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 valued at $600,000 after purchasing an additional 347 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 1.0%

NYSE:EPD opened at $30.97 on Friday. The company has a 50-day moving average price of $31.32 and a 200-day moving average price of $31.33. The stock has a market cap of $67.05 billion, a price-to-earnings ratio of 11.51, 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. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly 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 company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 earnings per share. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. Enterprise Products Partners’s payout ratio is currently 82.26%.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on EPD shares. Morgan Stanley cut 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 report on Tuesday, August 26th. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Scotiabank decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One investment 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners Profile

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.