Stokes Family Office LLC Has $952,000 Stock Holdings in Enterprise Products Partners L.P. $EPD

Stokes Family Office LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 38.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,703 shares of the oil and gas producer’s stock after buying an additional 8,463 shares during the quarter. Stokes Family Office LLC’s holdings in Enterprise Products Partners were worth $952,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Enterprise Products Partners during the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Enterprise Products Partners during the first quarter valued at about $28,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners in the second quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners in the first quarter valued at about $34,000. Finally, Pandora Wealth Inc. acquired a new stake in Enterprise Products Partners during the first quarter worth about $48,000. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley reduced their price objective on 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. Stifel Nicolaus boosted their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Scotiabank dropped their target price 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Enterprise Products Partners Stock Up 1.0%

NYSE EPD opened at $31.28 on Friday. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The stock has a fifty day moving average of $31.30 and a 200-day moving average of $31.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market capitalization of $67.72 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The business had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. On average, equities research analysts forecast 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. Shareholders of record on Friday, October 31st will be issued a dividend of $0.545 per share. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Enterprise Products Partners announced that its Board of Directors has approved 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 often an indication that the company’s board of directors believes its stock is 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.