Shoker Investment Counsel Inc. Has $4.24 Million Stake in Enterprise Products Partners L.P. $EPD

Shoker Investment Counsel Inc. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the second quarter, HoldingsChannel reports. The firm owned 136,589 shares of the oil and gas producer’s stock after buying an additional 3,340 shares during the period. Enterprise Products Partners makes up about 1.3% of Shoker Investment Counsel Inc.’s portfolio, making the stock its 16th largest position. Shoker Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $4,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after purchasing an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after buying an additional 81,135 shares in the last quarter. Hamlin Capital Management LLC lifted its holdings in Enterprise Products Partners by 1.8% during the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after acquiring an additional 89,987 shares during the period. BROOKFIELD Corp ON boosted its holdings in shares of Enterprise Products Partners by 2.8% in the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after buying an additional 128,545 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake 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 valued at $148,415,000 after acquiring an additional 1,717,768 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $31.73 on Tuesday. The company has a 50-day moving average price of $31.28 and a 200-day moving average price of $31.38. The company has a market cap of $68.65 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data 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 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 the consensus estimate of $11.83 billion. During the same quarter in the prior year, the business posted $0.65 earnings per share. Enterprise Products Partners’s quarterly revenue was down 12.7% compared to the same quarter last year. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

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

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $0.545 dividend. The ex-dividend date was Friday, October 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners’s payout ratio is 82.26%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note 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 for the company in a report on Tuesday, August 26th. Scotiabank decreased 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 report on Tuesday, November 4th. Finally, Weiss Ratings reissued 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 assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $36.00.

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.