Creative Financial Designs Inc. ADV Raises Stock Holdings in Enterprise Products Partners L.P. $EPD

Creative Financial Designs Inc. ADV boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,413 shares of the oil and gas producer’s stock after buying an additional 1,020 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Enterprise Products Partners were worth $1,315,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Enterprise Products Partners in the 1st quarter worth about $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth about $28,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $34,000. Finally, North Capital Inc. bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 2.6%

Shares of NYSE:EPD opened at $30.75 on Friday. The stock has a 50 day moving average of $31.42 and a 200 day moving average of $31.33. The company has a market cap of $66.57 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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). The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, equities research analysts expect 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 program on Thursday, October 30th that allows the company to repurchase $5.00 billion in 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 programs are often a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on EPD shares. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Scotiabank cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Morgan Stanley cut their price target on 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. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.09.

Enterprise Products Partners 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.