Signal Advisors Wealth LLC Acquires New Stake in Enterprise Products Partners L.P. $EPD

Signal Advisors Wealth LLC bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,552 shares of the oil and gas producer’s stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Energy Income Partners LLC increased its position in shares of Enterprise Products Partners by 14.3% during the 2nd quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after purchasing an additional 1,834,659 shares during the period. Northside Capital Management LLC bought a new position in Enterprise Products Partners during the second quarter valued at about $47,628,000. Corient Private Wealth LLC grew its holdings in Enterprise Products Partners by 119.4% during the second quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock worth $74,859,000 after acquiring an additional 1,313,976 shares during the period. HRT Financial LP grew its holdings in Enterprise Products Partners by 118.1% during the second quarter. HRT Financial LP now owns 1,528,580 shares of the oil and gas producer’s stock worth $47,401,000 after acquiring an additional 827,780 shares during the period. Finally, Prospera Financial Services Inc raised its position in Enterprise Products Partners by 213.0% in the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after acquiring an additional 666,967 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 0.0%

EPD stock opened at $31.98 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The firm has a market capitalization of $69.19 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.44 and a beta of 0.59. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.53. The company’s 50 day simple moving average is $31.62 and its 200-day simple moving average is $31.54.

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 for the quarter, missing the consensus estimate of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its board has authorized a stock buyback plan on Thursday, October 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were issued a dividend of $0.545 per share. The ex-dividend date was Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. Enterprise Products Partners’s payout ratio is currently 82.26%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EPD shares. UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday. Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price for the company. in a research note on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Monday, December 1st. 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 report on Tuesday, November 4th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.64.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.