HWG Holdings LP Increases Stock Holdings in Enterprise Products Partners L.P. $EPD

HWG Holdings LP boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 108.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,223 shares of the oil and gas producer’s stock after purchasing an additional 19,906 shares during the period. HWG Holdings LP’s holdings in Enterprise Products Partners were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EPD. Wealth Alliance Advisory Group LLC increased its holdings in shares of Enterprise Products Partners by 5.8% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 18,914 shares of the oil and gas producer’s stock worth $591,000 after buying an additional 1,031 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Enterprise Products Partners by 6.5% during the third quarter. Farther Finance Advisors LLC now owns 69,205 shares of the oil and gas producer’s stock worth $2,164,000 after acquiring an additional 4,239 shares during the last quarter. Berger Financial Group Inc acquired a new stake in Enterprise Products Partners during the third quarter worth $206,000. HBK Sorce Advisory LLC raised its position in Enterprise Products Partners by 40.7% in the third quarter. HBK Sorce Advisory LLC now owns 24,407 shares of the oil and gas producer’s stock valued at $773,000 after purchasing an additional 7,054 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Enterprise Products Partners by 2.2% in the third quarter. Exchange Traded Concepts LLC now owns 884,381 shares of the oil and gas producer’s stock valued at $27,655,000 after purchasing an additional 18,971 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EPD shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a report on Friday. Morgan Stanley cut shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target for the company. in a research report on Thursday. Citigroup restated a “buy” rating and issued a $36.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Scotiabank dropped their target price on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Finally, Stifel Nicolaus upped their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.64.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.10 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The company has a market cap of $69.43 billion, a P/E ratio of 12.11, a PEG ratio of 2.44 and a beta of 0.58. The firm’s 50 day moving average price is $31.64 and its 200 day moving average price is $31.55.

Enterprise Products Partners (NYSE:EPD) last posted 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 company had revenue of $12.02 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.65 EPS. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share 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. Shareholders of record on Friday, October 31st were given a $0.545 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.8%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Enterprise Products Partners announced that its Board of Directors has authorized a stock buyback plan 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 reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Enterprise Products Partners Company 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.