Kore Advisors LP Invests $211,000 in Enterprise Products Partners L.P. $EPD

Kore Advisors LP bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,800 shares of the oil and gas producer’s stock, valued at approximately $211,000. Enterprise Products Partners comprises about 0.2% of Kore Advisors LP’s portfolio, making the stock its 10th biggest holding.

Several other large investors have also recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners in the first quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the 2nd quarter worth approximately $29,000. Finally, Traub Capital Management LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $31,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Up 0.6%

EPD opened at $32.73 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company’s 50-day moving average price is $31.38 and its two-hundred day moving average price is $31.48. The stock has a market cap of $70.81 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.22 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period last year, the firm posted $0.65 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a dividend of $0.545 per share. The ex-dividend date was Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.7%. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

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

Analyst Ratings Changes

EPD has been the subject of a number of analyst reports. Scotiabank dropped 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 report on Tuesday, November 4th. Morgan Stanley decreased their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

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.