WCG Wealth Advisors LLC Grows Holdings in Enterprise Products Partners L.P. $EPD

WCG Wealth Advisors LLC increased its stake in Enterprise Products Partners L.P. by 70.7% in Q2, owning 114,681 shares worth $3,556,000. Other institutional investors also adjusted their positions. 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 share repurchase plan and a quarterly dividend of $0.545. Analysts have given mixed ratings, with some raising price targets.

WCG Wealth Advisors LLC increased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 70.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 114,681 shares of the oil and gas producer's stock after purchasing an additional 47,513 shares during the period. WCG Wealth Advisors LLC's holdings in Enterprise Products Partners were worth $3,556,000 at the end of the most recent reporting period.

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Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of Enterprise Products Partners by 1.4% during the second quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer's stock worth $578,406,000 after buying an additional 252,513 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 in the last quarter. Chickasaw Capital Management LLC boosted its holdings in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer's stock valued at $171,022,000 after acquiring an additional 81,135 shares during the period. Hamlin Capital Management LLC grew its position 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 acquiring an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its stake in Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer's stock worth $160,416,000 after purchasing an additional 128,545 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.51 on Tuesday. The stock's 50-day simple moving average is $31.40 and its 200-day simple moving average is $31.48. The firm has a market capitalization of $70.34 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.56. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

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Enterprise Products Partners (NYSE:EPD - Get Free Report) 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 analysts' consensus estimates 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 business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same period last year, the company earned $0.65 earnings per share. The business's revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

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

Enterprise Products Partners Dividend Announcement

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The business 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. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 82.26%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EPD. Stifel Nicolaus raised their price objective 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research report on Monday. Morgan Stanley dropped 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Scotiabank reduced their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.73.

View Our Latest Research Report on EPD

Enterprise Products Partners Company 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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