TIAA Trust National Association Increases Stake in Enterprise Products Partners L.P. $EPD

TIAA Trust National Association lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 6.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,576 shares of the oil and gas producer’s stock after acquiring an additional 1,986 shares during the period. TIAA Trust National Association’s holdings in Enterprise Products Partners were worth $948,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its holdings in Enterprise Products Partners by 7.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock worth $4,703,000 after acquiring an additional 9,979 shares in the last quarter. Forbes J M & Co. LLP purchased a new stake in Enterprise Products Partners in the 1st quarter worth $290,000. Corigliano Investment Advisers LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth $4,384,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Enterprise Products Partners by 1.6% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock worth $60,702,000 after acquiring an additional 31,652 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth $22,284,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 1.3%

Shares of EPD stock opened at $30.18 on Wednesday. The company’s 50-day moving average price is $31.36 and its 200-day moving average price is $31.33. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The stock has a market cap of $65.34 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 2.22 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

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 for the quarter, missing the consensus estimate of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.65 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

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

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $0.545 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.2%. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Scotiabank lowered 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 research note on Tuesday. Morgan Stanley lowered their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.