Westwood Holdings Group Inc. Cuts Stake in Enterprise Products Partners L.P. $EPD

Westwood Holdings Group Inc. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,642,994 shares of the oil and gas producer’s stock after selling 111,845 shares during the period. Enterprise Products Partners makes up approximately 1.3% of Westwood Holdings Group Inc.’s portfolio, making the stock its 8th biggest position. Westwood Holdings Group Inc. owned approximately 0.26% of Enterprise Products Partners worth $174,989,000 at the end of the most recent reporting period.

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

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $32.10 on Friday. The company has a market capitalization of $69.43 billion, a PE ratio of 12.11, a PEG ratio of 2.46 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $31.55 and its 200-day moving average price is $31.51. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.53.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The business had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter last year, the business posted $0.65 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its board has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s payout ratio is presently 82.26%.

Analysts Set New Price Targets

EPD has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. 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 note on Tuesday, November 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 target price on shares of Enterprise Products Partners in a research report on Monday, December 1st. Finally, Morgan Stanley set a $34.00 price target on Enterprise Products Partners and gave the stock an “equal weight” rating in a 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.82.

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.