Oxbow Advisors LLC Buys Shares of 1,368,329 Enterprise Products Partners L.P. $EPD

Oxbow Advisors LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,368,329 shares of the oil and gas producer’s stock, valued at approximately $50,300,000. Enterprise Products Partners makes up 4.1% of Oxbow Advisors LLC’s investment portfolio, making the stock its 3rd largest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Enterprise Products Partners by 0.6% in the fourth quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock worth $1,367,011,000 after buying an additional 260,305 shares during the period. Auto Owners Insurance Co lifted its position in shares of Enterprise Products Partners by 3,106.0% during the 4th quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares in the last quarter. Morgan Stanley grew its stake in shares of Enterprise Products Partners by 4.8% during the 4th quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock valued at $612,870,000 after acquiring an additional 883,983 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after acquiring an additional 1,940,583 shares during the period. Finally, Energy Income Partners LLC increased its holdings in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after acquiring an additional 80,884 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.1%

Shares of NYSE EPD opened at $38.66 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The firm has a 50-day simple moving average of $37.63 and a two-hundred day simple moving average of $37.44. The company has a market cap of $83.48 billion, a P/E ratio of 13.42, a PEG ratio of 1.30 and a beta of 0.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Citigroup restated a “buy” rating and set a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Wolfe Research raised shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. TD Cowen reiterated a “hold” rating and issued a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.