Bay Colony Advisory Group Inc d b a Bay Colony Advisors Grows Position in Enterprise Products Partners L.P. $EPD

Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 52.9% during the second quarter, HoldingsChannel reports. The firm owned 34,898 shares of the oil and gas producer’s stock after purchasing an additional 12,081 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Enterprise Products Partners were worth $1,082,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EPD. Brighton Jones LLC raised its position in Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Enterprise Products Partners by 27.7% during the first quarter. Koshinski Asset Management Inc. now owns 9,270 shares of the oil and gas producer’s stock valued at $316,000 after purchasing an additional 2,012 shares in the last quarter. Private Trust Co. NA raised its position in Enterprise Products Partners by 23.6% during the first quarter. Private Trust Co. NA now owns 20,707 shares of the oil and gas producer’s stock valued at $707,000 after purchasing an additional 3,949 shares in the last quarter. Resonant Capital Advisors LLC raised its position in Enterprise Products Partners by 9.4% during the first quarter. Resonant Capital Advisors LLC now owns 8,750 shares of the oil and gas producer’s stock valued at $299,000 after purchasing an additional 750 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in Enterprise Products Partners during the first quarter valued at about $38,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the topic of a number of research reports. TD Cowen initiated coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price target on the stock. Stifel Nicolaus lifted their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley decreased their price objective on 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. Scotiabank decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.09.

Enterprise Products Partners Stock Down 2.6%

Shares of NYSE:EPD opened at $30.75 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a market cap of $66.57 billion, a PE ratio of 11.43, a P/E/G ratio of 2.22 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The stock’s 50-day moving average is $31.42 and its 200 day moving average is $31.33.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, October 30th. 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 for the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s payout ratio is currently 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.