Corps Capital Advisors LLC Has $2.64 Million Holdings in Enterprise Products Partners L.P. $EPD

Corps Capital Advisors LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 3.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 85,130 shares of the oil and gas producer’s stock after buying an additional 2,488 shares during the period. Enterprise Products Partners accounts for 4.2% of Corps Capital Advisors LLC’s investment portfolio, making the stock its 9th largest position. Corps Capital Advisors LLC’s holdings in Enterprise Products Partners were worth $2,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of EPD. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $34,000. Finally, Pandora Wealth Inc. acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 1.3%

Shares of Enterprise Products Partners stock opened at $30.18 on Wednesday. The stock has a 50-day moving average price of $31.36 and a 200 day moving average price of $31.33. The company has a market cap of $65.34 billion, a P/E ratio of 11.22, a P/E/G ratio of 2.22 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. 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 announced its quarterly earnings data on Thursday, October 30th. 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 return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the prior year, the company posted $0.65 earnings per share. The firm’s revenue was down 12.7% on a year-over-year basis. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners announced that its board has authorized a share buyback program on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. 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 research report on Tuesday, August 26th. Scotiabank decreased their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday. 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 note on Friday, October 31st. Finally, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. One equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.00.

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.