Inspire Advisors LLC Boosts Holdings in Enterprise Products Partners L.P. $EPD

Inspire Advisors LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 181.9% in the second quarter, Holdings Channel.com reports. The firm owned 54,450 shares of the oil and gas producer’s stock after acquiring an additional 35,133 shares during the period. Inspire Advisors LLC’s holdings in Enterprise Products Partners were worth $1,688,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Enterprise Products Partners by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after buying an additional 457,045 shares during the period. Chickasaw Capital Management LLC increased its holdings in shares of 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 worth $171,022,000 after buying an additional 81,135 shares during the period. Hamlin Capital Management LLC lifted its stake in shares of Enterprise Products Partners by 1.8% in the 2nd 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 during the last quarter. BROOKFIELD Corp ON boosted its holdings in Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. grew its position 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 acquiring an additional 1,717,768 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Scotiabank lowered their price objective 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, November 4th. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 26th. Stifel Nicolaus increased their price target on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $31.73 on Tuesday. The firm has a market capitalization of $68.65 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.22 and a beta of 0.67. The stock has a fifty day moving average of $31.28 and a 200 day moving average of $31.38. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 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.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, October 29th. 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 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 analysts’ expectations of $11.83 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, research analysts expect 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 approved a stock repurchase plan 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 reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given 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 6.9%. Enterprise Products Partners’s payout ratio is currently 82.26%.

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.