PFG Investments LLC Acquires 16,483 Shares of Enterprise Products Partners L.P. $EPD

PFG Investments LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 12.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,556 shares of the oil and gas producer’s stock after buying an additional 16,483 shares during the period. PFG Investments LLC’s holdings in Enterprise Products Partners were worth $4,677,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Birch Financial Group LLC purchased a new position in shares of Enterprise Products Partners in the 3rd quarter valued at $205,000. Hunter Associates Investment Management LLC boosted its position in Enterprise Products Partners by 15.6% during the third quarter. Hunter Associates Investment Management LLC now owns 7,806 shares of the oil and gas producer’s stock valued at $246,000 after purchasing an additional 1,053 shares in the last quarter. Delta Financial Advisors LLC purchased a new position in Enterprise Products Partners in the third quarter valued at about $553,000. Rossmore Private Capital purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at about $213,000. Finally, Probity Advisors Inc. boosted its holdings in shares of Enterprise Products Partners by 6.0% in the 3rd quarter. Probity Advisors Inc. now owns 8,849 shares of the oil and gas producer’s stock valued at $277,000 after buying an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD opened at $33.03 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.53. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04. The company has a market cap of $71.44 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 2.33 and a beta of 0.59. The company’s 50 day moving average is $32.26 and its 200 day moving average is $31.70.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. On average, sell-side analysts forecast 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 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 repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 6.7%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio is 82.26%.

Insiders Place Their Bets

In related news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the transaction, the director owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 32.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EPD. Jefferies Financial Group initiated coverage on shares of Enterprise Products Partners in a research report on Monday, January 12th. They set a “hold” rating and a $33.00 target price for the company. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Wednesday, January 14th. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective on the stock. in a report on Thursday, December 18th. Finally, UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.77.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.