Paradigm Asset Management Co. LLC Purchases Shares of 9,400 Enterprise Products Partners L.P. $EPD

Paradigm Asset Management Co. LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,400 shares of the oil and gas producer’s stock, valued at approximately $291,000.

A number of other hedge funds have also recently added to or reduced their stakes in EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners during the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners in the first quarter valued at approximately $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at $34,000. Finally, Pandora Wealth Inc. purchased a new stake in Enterprise Products Partners during the first quarter valued at about $48,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 1.0%

EPD stock opened at $31.28 on Friday. The company has a market capitalization of $67.72 billion, a P/E ratio of 11.63, a PEG ratio of 2.22 and a beta of 0.67. The firm has a 50 day simple moving average of $31.30 and a 200-day simple moving average of $31.34. 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 twelve month low of $27.77 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $11.83 billion. During the same quarter last year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners declared that its board has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is currently 82.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective 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 cut 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, November 4th. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, 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.