Enterprise Products Partners L.P. $EPD Stake Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,964 shares of the oil and gas producer’s stock after selling 1,783 shares during the period. King Luther Capital Management Corp’s holdings in Enterprise Products Partners were worth $6,635,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of EPD. Brooklyn Investment Group purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners during the first quarter valued at approximately $34,000. Finally, Pandora Wealth Inc. purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $48,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 1.0%

Shares of NYSE:EPD opened at $31.28 on Monday. 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 stock’s 50-day moving average is $31.30 and its 200-day moving average is $31.34. The company 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 52-week low of $27.77 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.07). The business had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s revenue for the quarter 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. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its board has initiated a stock repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 is presently 82.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Scotiabank reduced their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Morgan Stanley lowered their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.