Trek Financial LLC Trims Stake in Enterprise Products Partners L.P. $EPD

Trek Financial LLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 90.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,873 shares of the oil and gas producer’s stock after selling 88,709 shares during the period. Trek Financial LLC’s holdings in Enterprise Products Partners were worth $275,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners in the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in Enterprise Products Partners in the 1st quarter worth approximately $28,000. Winnow Wealth LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $29,000. Finally, Traub Capital Management LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $31,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Morgan Stanley set a $34.00 price objective on Enterprise Products Partners and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a research report on Monday. Finally, Scotiabank reduced their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

Enterprise Products Partners Stock Up 1.5%

EPD opened at $32.60 on Friday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 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 business’s 50-day moving average price is $31.44 and its 200-day moving average price is $31.49. The company has a market cap of $70.52 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.46 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly 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 19.40% and a net margin of 10.92%.The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. Enterprise Products Partners’s 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 EPS for the current year.

Enterprise Products Partners announced that its Board of Directors has initiated a share repurchase program on Thursday, October 30th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the oil and gas producer to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 82.26%.

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.