Enterprise Products Partners L.P. $EPD Shares Bought by Creative Planning

Creative Planning grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850,162 shares of the oil and gas producer’s stock after buying an additional 37,115 shares during the quarter. Creative Planning’s holdings in Enterprise Products Partners were worth $26,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Enterprise Products Partners by 7.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock valued at $4,703,000 after buying an additional 9,979 shares during the period. Quantum Financial Planning Services Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $310,000. Forbes J M & Co. LLP purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth $290,000. Corigliano Investment Advisers LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $4,384,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in shares of Enterprise Products Partners by 1.6% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock valued at $60,702,000 after purchasing an additional 31,652 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Scotiabank decreased their target price 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. Finally, Morgan Stanley dropped their price target on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Stock Up 1.4%

EPD opened at $32.20 on Monday. The company has a market cap of $69.66 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The firm has a 50 day moving average price of $31.28 and a 200 day moving average price of $31.37.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.545 dividend. 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 dividend payout ratio is currently 82.26%.

Enterprise Products Partners declared that its Board of Directors has authorized a stock 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 repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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.