Enterprise Products Partners L.P. $EPD Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 17.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 113,876 shares of the oil and gas producer’s stock after buying an additional 16,785 shares during the period. ProShare Advisors LLC’s holdings in Enterprise Products Partners were worth $3,531,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after acquiring an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after purchasing an additional 81,135 shares during the period. Hamlin Capital Management LLC lifted its holdings in shares of Enterprise Products Partners by 1.8% in the second quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock valued at $154,896,000 after purchasing an additional 89,987 shares in the last quarter. BROOKFIELD Corp ON lifted its holdings in shares of Enterprise Products Partners by 2.8% in the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after purchasing an additional 128,545 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after buying an additional 1,717,768 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.20 on Friday. 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 firm has a market cap of $69.66 billion, a PE ratio of 11.97, a PEG ratio of 2.22 and a beta of 0.67. The firm’s 50 day moving average price is $31.28 and its 200 day moving average price is $31.35. 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 announced 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 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%.The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Enterprise Products Partners declared that its Board of Directors has approved a share buyback plan 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 buy up to 7.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

EPD has been the topic of several recent analyst reports. Scotiabank dropped their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, 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 report 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 given a Hold rating to the stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus 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.