Smith Moore & CO. Has $1.78 Million Stock Holdings in Enterprise Products Partners L.P. $EPD

Smith Moore & CO. lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,306 shares of the oil and gas producer’s stock after selling 3,603 shares during the quarter. Smith Moore & CO.’s holdings in Enterprise Products Partners were worth $1,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EPD. Kore Advisors LP bought a new position in shares of Enterprise Products Partners during the second quarter valued at $211,000. F m Investments LLC increased its holdings in Enterprise Products Partners by 0.3% in the second quarter. F m Investments LLC now owns 134,093 shares of the oil and gas producer’s stock valued at $4,158,000 after purchasing an additional 429 shares during the period. Level Four Advisory Services LLC raised its position in Enterprise Products Partners by 11.4% during the 2nd quarter. Level Four Advisory Services LLC now owns 127,142 shares of the oil and gas producer’s stock worth $3,943,000 after purchasing an additional 12,977 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Enterprise Products Partners by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 277,197 shares of the oil and gas producer’s stock worth $8,596,000 after buying an additional 20,371 shares during the period. Finally, Elgethun Capital Management increased its stake in shares of Enterprise Products Partners by 69.5% in the second quarter. Elgethun Capital Management now owns 172,285 shares of the oil and gas producer’s stock valued at $5,343,000 after buying an additional 70,655 shares during the period. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on EPD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Morgan Stanley decreased their price target on 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Monday. Finally, Scotiabank decreased their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average price target of $35.73.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $32.51 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. The firm has a 50-day moving average of $31.40 and a 200-day moving average of $31.48. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.56. The company has a market cap of $70.34 billion, a P/E ratio of 12.09, a P/E/G ratio of 2.22 and a beta of 0.67.

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 (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The business’s revenue was down 12.7% on a year-over-year basis. Equities research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Enterprise Products Partners announced that its Board of Directors has approved a share 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Enterprise Products Partners

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.