Kore Advisors LP Takes $211,000 Position in Enterprise Products Partners L.P. $EPD

Kore Advisors LP acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,800 shares of the oil and gas producer’s stock, valued at approximately $211,000. Enterprise Products Partners makes up about 0.2% of Kore Advisors LP’s investment portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of Enterprise Products Partners by 1.4% in the second quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock valued at $578,406,000 after acquiring an additional 252,513 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 worth $375,662,000 after acquiring an additional 457,045 shares during the period. Chickasaw Capital Management LLC lifted its stake in Enterprise Products Partners by 1.5% in 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 purchasing an additional 81,135 shares in the last quarter. Hamlin Capital Management LLC boosted its holdings in Enterprise Products Partners by 1.8% in the 2nd quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock valued at $154,896,000 after purchasing an additional 89,987 shares during the period. Finally, BROOKFIELD Corp ON grew its position in shares of Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after purchasing an additional 128,545 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Scotiabank lowered 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 note on Tuesday, November 4th. Finally, 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 research note 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners Stock Up 0.6%

EPD opened at $32.73 on Friday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $31.38 and its 200-day moving average price is $31.48. The company has a market cap of $70.81 billion, a P/E ratio of 12.17, a P/E/G ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last posted 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. Enterprise Products Partners’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners announced that its board has initiated a stock buyback program on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

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

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.