Sunbeam Capital Management LLC Has $786,000 Holdings in Enterprise Products Partners L.P. $EPD

Sunbeam Capital Management LLC increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 175.1% during the third quarter, Holdings Channel reports. The fund owned 25,148 shares of the oil and gas producer’s stock after purchasing an additional 16,005 shares during the period. Sunbeam Capital Management LLC’s holdings in Enterprise Products Partners were worth $786,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Winnow Wealth LLC bought a new stake in shares of Enterprise Products Partners during the second quarter worth $28,000. Crowley Wealth Management Inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at about $29,000. Traub Capital Management LLC acquired a new position in Enterprise Products Partners during the 2nd quarter worth about $31,000. Financial Consulate Inc. bought a new stake in Enterprise Products Partners during the 3rd quarter worth about $33,000. Finally, Davis Capital Management acquired a new stake in Enterprise Products Partners in the 3rd quarter valued at about $45,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wolfe Research lowered shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Wednesday. Jefferies Financial Group assumed coverage on shares of Enterprise Products Partners in a research report on Monday. They issued a “hold” rating and a $33.00 price objective for the company. Stifel Nicolaus increased their price objective 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. Morgan Stanley downgraded 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 report on Thursday, December 18th. Finally, UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.77.

Enterprise Products Partners Price Performance

EPD opened at $32.46 on Thursday. The company has a fifty day moving average price of $32.06 and a two-hundred day moving average price of $31.63. The firm has a market capitalization of $70.22 billion, a PE ratio of 12.25, a P/E/G ratio of 2.27 and a beta of 0.59. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88.

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 for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The company had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same period last year, the company earned $0.65 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 83.02%.

Enterprise Products Partners declared that its Board of Directors has initiated a share buyback 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 reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford bought 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 32.60% of the company’s stock.

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.