GM Advisory Group LLC Sells 3,770 Shares of Enterprise Products Partners L.P. $EPD

GM Advisory Group LLC cut its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,485 shares of the oil and gas producer’s stock after selling 3,770 shares during the period. GM Advisory Group LLC’s holdings in Enterprise Products Partners were worth $2,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in Enterprise Products Partners by 1.4% during the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after acquiring an additional 252,513 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 worth $375,662,000 after purchasing an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC raised 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 valued at $171,022,000 after buying an additional 81,135 shares during the last quarter. Hamlin Capital Management LLC lifted its position in Enterprise Products Partners by 1.8% during the 2nd quarter. Hamlin Capital Management LLC now owns 4,995,047 shares of the oil and gas producer’s stock worth $154,896,000 after buying an additional 89,987 shares in the last quarter. Finally, BROOKFIELD Corp ON grew 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 worth $160,416,000 after acquiring an additional 128,545 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.1%

NYSE:EPD opened at $32.56 on Thursday. 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. The firm has a market capitalization of $70.44 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.22 and a beta of 0.67. The business’s 50-day moving average price is $31.34 and its two-hundred day moving average price is $31.46.

Enterprise Products Partners (NYSE:EPD) last posted 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 return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Enterprise Products Partners’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, equities 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 has authorized a stock 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 reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a 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%.

Analyst Ratings Changes

A number of equities analysts have weighed in on EPD shares. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Morgan Stanley lowered their price target on shares of 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 dropped their price objective on shares of 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

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.