J.W. Cole Advisors Inc. Raises Stake in Enterprise Products Partners L.P. $EPD

J.W. Cole Advisors Inc. increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,710 shares of the oil and gas producer’s stock after purchasing an additional 2,529 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Enterprise Products Partners were worth $4,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV purchased a new position in shares of Enterprise Products Partners during the first quarter valued at about $71,052,000. JPMorgan Chase & Co. grew its holdings in Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares during the period. Northside Capital Management LLC bought a new position in Enterprise Products Partners during the 2nd quarter valued at approximately $47,628,000. Commerce Bank purchased a new position in Enterprise Products Partners during the first quarter valued at $23,833,000. Finally, Prospera Financial Services Inc boosted 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 acquiring an additional 666,967 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.1%

Shares of EPD stock opened at $32.56 on Thursday. 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 has a fifty day simple moving average of $31.34 and a two-hundred day simple moving average of $31.46. The firm has a market capitalization of $70.44 billion, a PE ratio of 12.10, a PEG 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 released its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) 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 analysts’ expectations of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. On average, analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners declared that its board has approved a share repurchase program on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EPD shares. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company 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 report on Wednesday, October 8th. Scotiabank reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. 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 on the stock in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.