Sigma Planning Corp Sells 4,013 Shares of Enterprise Products Partners L.P. $EPD

Sigma Planning Corp lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.9% during the second quarter, Holdings Channel reports. The fund owned 32,655 shares of the oil and gas producer’s stock after selling 4,013 shares during the period. Sigma Planning Corp’s holdings in Enterprise Products Partners were worth $1,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners during the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners in the 1st quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners during the 2nd quarter worth $29,000. N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners during the 1st quarter worth $34,000. Finally, Pandora Wealth Inc. bought a new position in Enterprise Products Partners in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of recent research reports. Morgan Stanley dropped their target price on 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 boosted their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Finally, Scotiabank dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday. 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 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 Price Performance

Shares of EPD opened at $30.97 on Friday. The stock has a market cap of $67.05 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The stock’s 50-day moving average price is $31.32 and its two-hundred day moving average price is $31.33. 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 announced 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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

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

Enterprise Products Partners announced that its board has approved a share 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Company 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.