19,729 Shares in Enterprise Products Partners L.P. $EPD Purchased by Hudock Inc.

Hudock Inc. purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,729 shares of the oil and gas producer’s stock, valued at approximately $612,000.

A number of other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its stake in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after buying an additional 5,425 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Enterprise Products Partners by 7.1% during the 1st quarter. Bank of New York Mellon Corp now owns 314,768 shares of the oil and gas producer’s stock worth $10,746,000 after acquiring an additional 20,801 shares during the period. Sigma Planning Corp raised its position in shares of Enterprise Products Partners by 6.9% in the 1st quarter. Sigma Planning Corp now owns 36,668 shares of the oil and gas producer’s stock worth $1,252,000 after acquiring an additional 2,382 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Enterprise Products Partners by 19.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 12,264 shares of the oil and gas producer’s stock valued at $419,000 after purchasing an additional 2,037 shares during the period. Finally, Sage Mountain Advisors LLC bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $215,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EPD. Morgan Stanley decreased their price objective 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. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Scotiabank dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Trading Up 0.3%

Shares of NYSE:EPD opened at $31.57 on Thursday. The stock’s 50-day simple moving average is $31.27 and its two-hundred day simple moving average is $31.35. The stock has a market capitalization of $68.30 billion, a price-to-earnings ratio of 11.74, 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. 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 (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 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 buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are 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.