Vestmark Advisory Solutions Inc. Takes $545,000 Position in Enterprise Products Partners L.P. $EPD

Vestmark Advisory Solutions Inc. acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,440 shares of the oil and gas producer’s stock, valued at approximately $545,000.

Several other large investors also recently modified their holdings of EPD. Winnow Wealth LLC bought a new position in shares of Enterprise Products Partners during the 2nd quarter valued at about $28,000. Traub Capital Management LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC bought a new position in Enterprise Products Partners in the third quarter valued at approximately $32,000. Financial Consulate Inc. bought a new position in Enterprise Products Partners in the third quarter valued at approximately $33,000. Finally, Davis Capital Management acquired a new position in shares of Enterprise Products Partners in the third quarter valued at approximately $45,000. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Up 0.1%

NYSE:EPD opened at $35.97 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $37.31. The firm has a market capitalization of $77.81 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 2.55 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $33.69 and its two-hundred day moving average price is $32.33.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The business had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. During the same period last year, the business earned $0.74 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners declared that its Board of Directors has approved a stock buyback 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 often a sign that the company’s management believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is currently 82.71%.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 32.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on EPD shares. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a report on Friday, December 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Monday, December 1st. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. Finally, Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.00.

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.