Shoker Investment Counsel Inc. Purchases 3,340 Shares of Enterprise Products Partners L.P. $EPD

Shoker Investment Counsel Inc. grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,589 shares of the oil and gas producer’s stock after purchasing an additional 3,340 shares during the quarter. Enterprise Products Partners comprises about 1.3% of Shoker Investment Counsel Inc.’s investment portfolio, making the stock its 16th largest position. Shoker Investment Counsel Inc.’s holdings in Enterprise Products Partners were worth $4,236,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of EPD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock worth $375,662,000 after buying an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC boosted its holdings in Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock worth $171,022,000 after buying an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC grew its holdings in Enterprise Products Partners by 1.8% during 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 during the period. BROOKFIELD Corp ON increased its position in shares of Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock worth $160,416,000 after acquiring an additional 128,545 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EPD. Scotiabank decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Stifel Nicolaus increased their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Morgan Stanley dropped their price target 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 given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Stock Down 1.6%

NYSE:EPD opened at $31.73 on Tuesday. 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 one year low of $27.77 and a one year high of $34.63. The company has a market cap of $68.65 billion, a PE ratio of 11.80, a P/E/G ratio of 2.22 and a beta of 0.67. The firm’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $31.38.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). The company had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.26%.

Enterprise Products Partners declared that its board has authorized a stock buyback program 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 purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

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.