Thompson Davis & CO. Inc. Purchases New Position in Enterprise Products Partners L.P. $EPD

Thompson Davis & CO. Inc. purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,277 shares of the oil and gas producer’s stock, valued at approximately $226,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its position 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 valued at $4,703,000 after buying an additional 9,979 shares during the last quarter. Forbes J M & Co. LLP acquired a new stake in shares of Enterprise Products Partners in the 1st quarter worth $290,000. Corigliano Investment Advisers LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at about $4,384,000. Quantum Financial Planning Services Inc. acquired a new position in shares of Enterprise Products Partners during the second quarter worth about $310,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in Enterprise Products Partners by 1.6% during the second 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 purchasing an additional 31,652 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have 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 report on Friday, October 31st. Scotiabank cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target 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. One investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Stock Up 0.6%

Enterprise Products Partners stock opened at $31.76 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The firm has a market capitalization of $68.71 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The stock’s fifty day moving average is $31.27 and its two-hundred day moving average is $31.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Enterprise Products Partners’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis 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%.

Enterprise Products Partners announced that its board has approved a share repurchase program on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.