Oxbow Advisors LLC Has $40.34 Million Stake in Enterprise Products Partners L.P. $EPD

Oxbow Advisors LLC lowered its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,290,033 shares of the oil and gas producer’s stock after selling 52,241 shares during the quarter. Enterprise Products Partners comprises 3.7% of Oxbow Advisors LLC’s portfolio, making the stock its 4th biggest holding. Oxbow Advisors LLC owned 0.06% of Enterprise Products Partners worth $40,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Energy Income Partners LLC lifted its position in shares of Enterprise Products Partners by 14.3% in the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after acquiring an additional 1,834,659 shares in the last quarter. Corient Private Wealth LLC raised its stake in Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the period. Eagle Global Advisors LLC grew its holdings in Enterprise Products Partners by 42.2% during the 3rd quarter. Eagle Global Advisors LLC now owns 2,931,052 shares of the oil and gas producer’s stock valued at $91,654,000 after buying an additional 870,103 shares in the last quarter. HRT Financial LP grew its holdings in Enterprise Products Partners by 118.1% during the 2nd quarter. HRT Financial LP now owns 1,528,580 shares of the oil and gas producer’s stock valued at $47,401,000 after buying an additional 827,780 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in shares of Enterprise Products Partners by 213.0% in the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after buying an additional 666,967 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the subject of several research analyst reports. Scotiabank reaffirmed a “sector perform” rating on shares of Enterprise Products Partners in a research note on Friday, January 16th. Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research report on Wednesday, January 14th. Stifel Nicolaus boosted 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. Citigroup restated a “buy” rating and set a $36.00 price target (up previously from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Finally, Jefferies Financial Group assumed coverage on Enterprise Products Partners in a research note on Monday, January 12th. They issued a “hold” rating and a $33.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.77.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average cost of $32.09 per share, with a total value of $481,350.00. Following the purchase, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was 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. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Down 0.5%

Shares of Enterprise Products Partners stock traded down $0.17 on Friday, reaching $33.03. The company had a trading volume of 4,857,785 shares, compared to its average volume of 3,291,905. The firm’s 50-day moving average price is $32.26 and its two-hundred day moving average price is $31.70. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.53. The firm has a market cap of $71.44 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 2.33 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm had revenue of $12.02 billion for the quarter, compared to analysts’ expectations of $11.83 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. As a group, research 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 firm 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 dividend of $0.55 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s payout ratio is currently 82.26%.

Enterprise Products Partners announced that its Board of Directors has initiated a share buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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.