Rollins Financial Advisors LLC Lowers Position in Enterprise Products Partners L.P. $EPD

Rollins Financial Advisors LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 143,469 shares of the oil and gas producer’s stock after selling 2,912 shares during the period. Enterprise Products Partners makes up approximately 0.7% of Rollins Financial Advisors LLC’s holdings, making the stock its 27th largest holding. Rollins Financial Advisors LLC’s holdings in Enterprise Products Partners were worth $4,449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baer Investment Advisory LLC raised its position in shares of Enterprise Products Partners by 47.4% in the 2nd quarter. Baer Investment Advisory LLC now owns 64,667 shares of the oil and gas producer’s stock worth $2,008,000 after acquiring an additional 20,801 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Enterprise Products Partners by 2.6% in the second quarter. Parkside Financial Bank & Trust now owns 50,131 shares of the oil and gas producer’s stock worth $1,555,000 after purchasing an additional 1,275 shares during the period. ZEGA Investments LLC raised its holdings in Enterprise Products Partners by 46.1% in the second quarter. ZEGA Investments LLC now owns 24,560 shares of the oil and gas producer’s stock worth $762,000 after purchasing an additional 7,755 shares in the last quarter. Prospera Financial Services Inc raised its holdings in Enterprise Products Partners by 213.0% in the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after purchasing an additional 666,967 shares in the last quarter. Finally, RWA Wealth Partners LLC lifted its position in Enterprise Products Partners by 0.5% during the second quarter. RWA Wealth Partners LLC now owns 78,696 shares of the oil and gas producer’s stock valued at $2,440,000 after buying an additional 417 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.0%

NYSE:EPD opened at $31.28 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The firm has a market cap of $67.72 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The firm has a 50-day simple moving average of $31.30 and a two-hundred day simple moving average of $31.34.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners declared that its board has authorized a stock buyback program on Thursday, October 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently announced 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. This represents a $2.18 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Scotiabank cut 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 report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their target price 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 research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price 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.