Choreo LLC Buys 15,033 Shares of Enterprise Products Partners L.P. $EPD

Choreo LLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,896 shares of the oil and gas producer’s stock after purchasing an additional 15,033 shares during the quarter. Choreo LLC’s holdings in Enterprise Products Partners were worth $4,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group bought a new position in Enterprise Products Partners in the 1st quarter worth $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $28,000. Winnow Wealth LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at about $28,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth about $29,000. Finally, Traub Capital Management LLC acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth about $31,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank dropped their price target on 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. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Morgan Stanley reduced 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Stock Up 0.1%

Shares of EPD stock opened at $32.56 on Thursday. The stock has a market cap of $70.44 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The stock has a fifty day moving average price of $31.34 and a 200 day moving average price of $31.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its board has authorized a share repurchase plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

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

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.