Signal Advisors Wealth LLC Acquires Shares of 21,552 Enterprise Products Partners L.P. $EPD

Signal Advisors Wealth LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,552 shares of the oil and gas producer’s stock, valued at approximately $674,000.

Several other institutional investors and hedge funds have also modified their holdings of EPD. Brooklyn Investment Group purchased a new stake in shares of Enterprise Products Partners during the first quarter worth $27,000. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners in the 1st quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at about $29,000. Finally, Traub Capital Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $31,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

NYSE EPD opened at $31.98 on Friday. 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 fifty day simple moving average of $31.62 and a 200 day simple moving average of $31.54. The company has a market cap of $69.19 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.44 and a beta of 0.59. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53.

Enterprise Products Partners (NYSE:EPD) last announced its 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). The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners declared that its Board of Directors has approved a share repurchase program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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 given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, October 31st. Enterprise Products Partners’s payout ratio is currently 82.26%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on EPD shares. Scotiabank cut their price objective 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. Stifel Nicolaus raised their price target 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. Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective for the company. in a research note on Thursday. JPMorgan Chase & Co. reissued 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, UBS Group restated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.64.

About Enterprise Products Partners

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.