Journey Strategic Wealth LLC Sells 5,438 Shares of Enterprise Products Partners L.P. $EPD

Journey Strategic Wealth LLC lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 31.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,768 shares of the oil and gas producer’s stock after selling 5,438 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Enterprise Products Partners were worth $365,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EPD. ING Groep NV acquired a new position in Enterprise Products Partners in the 1st quarter worth $71,052,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 1,717,768 shares in the last quarter. Northside Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter valued at about $47,628,000. Commerce Bank acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $23,833,000. Finally, Prospera Financial Services Inc grew its holdings in shares of Enterprise Products Partners by 213.0% during 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 buying an additional 666,967 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 1.7%

NYSE:EPD opened at $32.42 on Monday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The firm has a market capitalization of $70.13 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $31.30 and its two-hundred day moving average price is $31.43.

Enterprise Products Partners (NYSE:EPD) last released its earnings results 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 net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period 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. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners declared that its board has approved a share repurchase program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

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

Wall Street Analyst Weigh In

EPD has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 26th. Stifel Nicolaus boosted their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Scotiabank decreased their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently 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.