Enterprise Products Partners L.P. $EPD Shares Sold by Natixis

Natixis cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 892,472 shares of the oil and gas producer’s stock after selling 25,400 shares during the quarter. Natixis’ holdings in Enterprise Products Partners were worth $27,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares during the period. Northside Capital Management LLC acquired a new position in Enterprise Products Partners during the second quarter worth $47,628,000. Prospera Financial Services Inc boosted its position in shares of Enterprise Products Partners by 213.0% during the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after buying an additional 666,967 shares during the period. Nuveen LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at $22,284,000. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in shares of Enterprise Products Partners in the second quarter valued at $18,316,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Monday, December 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Scotiabank dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Finally, Morgan Stanley set a $34.00 price objective on Enterprise Products Partners and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners Stock Performance

EPD opened at $32.61 on Monday. The business’s 50-day simple moving average is $31.46 and its 200-day simple moving average is $31.48. The company has a market cap of $70.55 billion, a P/E ratio of 12.31, a PEG ratio of 2.49 and a beta of 0.58. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly 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 net margin of 10.92% and a return on equity of 19.40%. The company had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. During the same quarter in the prior year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts expect 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 declared 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 was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Enterprise Products Partners declared that its board has initiated a stock repurchase plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors 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.