Foundations Investment Advisors LLC Has $7.81 Million Holdings in Enterprise Products Partners L.P. $EPD

Foundations Investment Advisors LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 14.8% during the second quarter, HoldingsChannel.com reports. The fund owned 251,944 shares of the oil and gas producer’s stock after purchasing an additional 32,429 shares during the period. Foundations Investment Advisors LLC’s holdings in Enterprise Products Partners were worth $7,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. WP Advisors LLC grew its holdings in shares of Enterprise Products Partners by 2.8% during the 2nd quarter. WP Advisors LLC now owns 364,271 shares of the oil and gas producer’s stock valued at $11,296,000 after purchasing an additional 9,914 shares during the last quarter. King Wealth Management Group lifted its stake in Enterprise Products Partners by 2.7% in the 2nd quarter. King Wealth Management Group now owns 22,329 shares of the oil and gas producer’s stock valued at $692,000 after purchasing an additional 596 shares during the last quarter. Intrua Financial LLC boosted its position in Enterprise Products Partners by 12.0% in the second quarter. Intrua Financial LLC now owns 71,699 shares of the oil and gas producer’s stock valued at $2,223,000 after buying an additional 7,661 shares in the last quarter. Clearstead Trust LLC grew its stake in shares of Enterprise Products Partners by 68.0% during the second quarter. Clearstead Trust LLC now owns 12,592 shares of the oil and gas producer’s stock worth $390,000 after buying an additional 5,096 shares during the last quarter. Finally, Avalon Trust Co increased its holdings in shares of Enterprise Products Partners by 157.9% during the second quarter. Avalon Trust Co now owns 9,800 shares of the oil and gas producer’s stock worth $304,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.20 on Friday. The business has a 50-day moving average of $31.28 and a 200-day moving average of $31.36. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its Board of Directors has approved a share buyback plan on Thursday, October 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

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

Wall Street Analyst Weigh In

EPD has been the topic of a number of research reports. Morgan Stanley reduced 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. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus upped 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. Finally, 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 report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus 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.