PBMares Wealth Management LLC Acquires 22,010 Shares of Enterprise Products Partners L.P. $EPD

PBMares Wealth Management LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 183.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,020 shares of the oil and gas producer’s stock after purchasing an additional 22,010 shares during the period. PBMares Wealth Management LLC’s holdings in Enterprise Products Partners were worth $1,064,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EPD. Winnow Wealth LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $28,000. Crowley Wealth Management Inc. purchased a new position in Enterprise Products Partners during the 2nd quarter valued at $29,000. Traub Capital Management LLC bought a new position in Enterprise Products Partners in the 2nd quarter worth $31,000. Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth about $33,000. Finally, Davis Capital Management bought a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at about $45,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Stifel Nicolaus increased their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Morgan Stanley cut Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price for the company. in a research note on Thursday, December 18th. Citigroup reaffirmed a “buy” rating and issued a $36.00 price target (up from $35.00) on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Finally, Jefferies Financial Group began coverage on Enterprise Products Partners in a research report on Monday. They set a “hold” rating and a $33.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus target price of $35.08.

Enterprise Products Partners Trading Up 0.1%

Enterprise Products Partners stock opened at $32.06 on Tuesday. 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 market capitalization of $69.36 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 2.25 and a beta of 0.59. The business’s fifty day simple moving average is $31.98 and its two-hundred day simple moving average is $31.61. The company has a current ratio of 0.88, a quick ratio of 0.60 and a debt-to-equity ratio of 1.04.

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 during the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the prior year, the firm earned $0.65 EPS. Enterprise Products Partners’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.55 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, January 30th. Enterprise Products Partners’s payout ratio is currently 82.26%.

Enterprise Products Partners declared that its board has authorized a stock buyback program on Thursday, October 30th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of the firm’s 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 acquisition, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 32.60% of the stock is owned by company insiders.

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.