Milestone Asset Management LLC Increases Holdings in Enterprise Products Partners L.P. $EPD

Milestone Asset Management LLC grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 40.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 48,328 shares of the oil and gas producer’s stock after acquiring an additional 13,935 shares during the quarter. Milestone Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its position in shares of Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 acquiring an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in Enterprise Products Partners by 1.5% in the second 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 acquiring an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC boosted its stake in 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 acquiring an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON grew its holdings 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 purchasing an additional 128,545 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on EPD. Morgan Stanley reduced their target price 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. Scotiabank decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Stifel Nicolaus raised their price objective 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. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.09.

Enterprise Products Partners Stock Down 0.7%

Shares of NYSE:EPD opened at $30.57 on Tuesday. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $31.39 and its 200-day simple moving average is $31.34. The company has a market cap of $66.18 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 2.22 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.61 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 company had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same quarter last year, the business earned $0.65 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners declared that its Board of Directors has initiated a share repurchase program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. Enterprise Products Partners’s payout ratio is currently 82.26%.

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.