Duff & Phelps Investment Management Co. Sells 137,869 Shares of Enterprise Products Partners L.P. $EPD

Duff & Phelps Investment Management Co. reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.7% in the second quarter, Holdings Channel reports. The institutional investor owned 1,290,489 shares of the oil and gas producer’s stock after selling 137,869 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Enterprise Products Partners were worth $40,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Enterprise Products Partners in the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $34,000. Finally, Pandora Wealth Inc. bought a new stake in Enterprise Products Partners during the first quarter worth $48,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on EPD shares. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus raised their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Morgan Stanley cut their price target 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. Finally, Scotiabank decreased their price objective 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, November 4th. One equities 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 company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Price Performance

EPD opened at $32.20 on Monday. 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 moving average of $31.28 and a 200 day moving average of $31.37. 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 $69.66 billion, a P/E ratio of 11.97, a PEG ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last released its 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 analysts’ expectations of $11.83 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

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

Enterprise Products Partners announced that its Board of Directors has initiated a stock buyback plan on Thursday, October 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.