Clearstead Trust LLC Boosts Stock Holdings in Enterprise Products Partners L.P. $EPD

Clearstead Trust LLC boosted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 68.0% in the second quarter, Holdings Channel.com reports. The firm owned 12,592 shares of the oil and gas producer’s stock after acquiring an additional 5,096 shares during the quarter. Clearstead Trust LLC’s holdings in Enterprise Products Partners were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

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

Enterprise Products Partners Trading Up 0.6%

Shares of EPD stock opened at $31.76 on Friday. The firm’s 50-day simple moving average is $31.27 and its 200-day simple moving average is $31.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The firm has a market cap of $68.71 billion, a P/E ratio of 11.81, a PEG ratio of 2.22 and a beta of 0.67.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The company 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%.The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS. As a group, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners announced that its board has initiated a share buyback plan on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EPD shares. Scotiabank decreased their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Morgan Stanley dropped 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 note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $36.00.

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.