Southeast Asset Advisors LLC Takes $223,000 Position in Enterprise Products Partners L.P. $EPD

Southeast Asset Advisors LLC purchased a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,207 shares of the oil and gas producer’s stock, valued at approximately $223,000.

A number of other hedge funds have also bought and sold shares of EPD. Brooklyn Investment Group purchased a new position in shares of Enterprise Products Partners during the 1st quarter worth about $27,000. Wealth Preservation Advisors LLC bought a new stake in shares of Enterprise Products Partners during the first quarter worth $28,000. Winnow Wealth LLC purchased a new stake in shares of Enterprise Products Partners during the second quarter valued at $28,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the second quarter worth about $29,000. Finally, Traub Capital Management LLC purchased a new position in Enterprise Products Partners in the 2nd quarter worth about $31,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EPD. Morgan Stanley lowered their price objective on shares of 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 boosted their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Scotiabank reduced their price objective on 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners Stock Up 0.1%

Shares of Enterprise Products Partners stock opened at $32.58 on Tuesday. 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 company has a market cap of $70.47 billion, a P/E ratio of 12.12, a PEG ratio of 2.22 and a beta of 0.67. The firm’s 50 day moving average price is $31.32 and its 200-day moving average price is $31.45. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share 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 for the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.26%.

Enterprise Products Partners declared that its Board of Directors has initiated a share buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to buy 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.

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.