WJ Financial Advisors LLC Purchases Shares of 16,927 Enterprise Products Partners L.P. $EPD

WJ Financial Advisors LLC purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,927 shares of the oil and gas producer’s stock, valued at approximately $529,000.

Several other institutional investors have also recently modified their holdings of EPD. Tred Avon Family Wealth LLC bought a new stake in Enterprise Products Partners in the third quarter worth $1,015,000. Tectonic Advisors LLC increased its holdings in shares of Enterprise Products Partners by 10.0% in the third quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after buying an additional 61,669 shares during the period. Westbourne Investment Advisors Inc. bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at about $657,000. ORBA Wealth Advisors L.L.C. lifted its stake in shares of Enterprise Products Partners by 90.4% in the 2nd quarter. ORBA Wealth Advisors L.L.C. now owns 22,671 shares of the oil and gas producer’s stock valued at $703,000 after acquiring an additional 10,764 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Enterprise Products Partners by 118.9% during the 2nd quarter. Corient Private Wealth LLC now owns 2,407,544 shares of the oil and gas producer’s stock valued at $74,658,000 after acquiring an additional 1,307,485 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 4.9%

NYSE:EPD opened at $37.16 on Friday. 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 L.P. has a 12 month low of $27.77 and a 12 month high of $37.31. The company has a 50-day moving average price of $32.94 and a 200-day moving average price of $32.01. The stock has a market cap of $80.38 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 2.52 and a beta of 0.60.

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

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Enterprise Products Partners announced that its Board of Directors has approved a share repurchase program on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on EPD. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Monday, December 1st. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research note on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research report on Wednesday, January 14th. Finally, Barclays reiterated an “overweight” rating and set a $38.00 target price (up from $35.00) on shares of Enterprise Products Partners in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.60% of the stock is currently owned by company insiders.

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.