Laurel Wealth Advisors LLC Buys 96,153 Shares of Enterprise Products Partners L.P. $EPD

Laurel Wealth Advisors LLC increased its stake in Enterprise Products Partners L.P. by 3,001% in Q2, now holding 99,357 shares worth $3.2 million. Other hedge funds also modified their holdings. Enterprise Products Partners reported Q3 earnings of $0.61 per share, missing estimates, with revenue down 12.7% YoY. The company announced a $5 billion stock repurchase plan and a quarterly dividend of $0.545. Analysts have a Moderate Buy rating with an average price target of $36.00.

Laurel Wealth Advisors LLC raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3,001.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,357 shares of the oil and gas producer's stock after buying an additional 96,153 shares during the quarter. Laurel Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $3,204,000 at the end of the most recent reporting period.

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

Enterprise Products Partners Stock Up 0.1%

Shares of Enterprise Products Partners stock opened at $32.56 on Friday. The firm has a market cap of $70.44 billion, a PE ratio of 12.10, a P/E/G ratio of 2.22 and a beta of 0.67. The business's 50 day simple moving average is $31.36 and its 200 day simple moving average is $31.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

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Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly 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 return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. During the same period in the prior 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, analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners announced that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Scotiabank dropped 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 report on Tuesday, November 4th. Finally, Stifel Nicolaus lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.00.

View Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Profile

(Free Report)

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.

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