Kayne Anderson Capital Advisors LP Has $417.04 Million Stock Position in Enterprise Products Partners L.P. $EPD

Kayne Anderson Capital Advisors LP lessened its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,448,640 shares of the oil and gas producer’s stock after selling 115,943 shares during the period. Enterprise Products Partners makes up about 9.6% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 3rd largest holding. Kayne Anderson Capital Advisors LP owned approximately 0.62% of Enterprise Products Partners worth $417,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EPD. Brooklyn Investment Group bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners in the 2nd quarter valued at approximately $29,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $34,000. Finally, Pandora Wealth Inc. bought a new position in Enterprise Products Partners in the 1st quarter valued at approximately $48,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EPD. Stifel Nicolaus increased 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. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research note on Friday, July 11th. Morgan Stanley decreased 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 report on Tuesday, August 26th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Scotiabank decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Trading Up 1.4%

EPD opened at $30.64 on Thursday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $31.34 and a 200-day moving average of $31.33. The stock has a market cap of $66.33 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter last year, the company earned $0.65 earnings per share. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

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

Enterprise Products Partners declared that its Board of Directors has initiated a stock buyback program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.