Compass Financial Services Inc Takes $73,000 Position in Enterprise Products Partners L.P. $EPD

Compass Financial Services Inc acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,363 shares of the oil and gas producer’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Foundations Investment Advisors LLC grew its position in shares of Enterprise Products Partners by 14.8% during the 2nd quarter. Foundations Investment Advisors LLC now owns 251,944 shares of the oil and gas producer’s stock worth $7,813,000 after buying an additional 32,429 shares during the period. WP Advisors LLC boosted its stake in Enterprise Products Partners by 2.8% during the 2nd quarter. WP Advisors LLC now owns 364,271 shares of the oil and gas producer’s stock worth $11,296,000 after acquiring an additional 9,914 shares during the last quarter. King Wealth Management Group boosted its stake in Enterprise Products Partners by 2.7% during the 2nd quarter. King Wealth Management Group now owns 22,329 shares of the oil and gas producer’s stock worth $692,000 after acquiring an additional 596 shares during the last quarter. Intrua Financial LLC grew its holdings in Enterprise Products Partners by 12.0% during the second quarter. Intrua Financial LLC now owns 71,699 shares of the oil and gas producer’s stock valued at $2,223,000 after purchasing an additional 7,661 shares during the period. Finally, Clearstead Trust LLC increased its stake in Enterprise Products Partners by 68.0% in the second quarter. Clearstead Trust LLC now owns 12,592 shares of the oil and gas producer’s stock valued at $390,000 after purchasing an additional 5,096 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EPD shares. Scotiabank reduced their price target 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, November 4th. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on 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 analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Stock Performance

EPD opened at $32.20 on Friday. The business’s 50-day simple moving average is $31.28 and its 200 day simple moving average is $31.35. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. 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 capitalization of $69.66 billion, a PE ratio of 11.97, a PEG ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 29th. 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 company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 82.26%.

Enterprise Products Partners announced that its Board of Directors has approved a share repurchase 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 typically an indication that the company’s board of directors believes its stock is 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.