Creekmur Asset Management LLC Decreases Position in Enterprise Products Partners L.P. $EPD

Creekmur Asset Management LLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,597 shares of the oil and gas producer’s stock after selling 641 shares during the quarter. Creekmur Asset Management LLC’s holdings in Enterprise Products Partners were worth $81,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Enterprise Products Partners during the first quarter worth $27,000. Wealth Preservation Advisors LLC purchased a new stake in Enterprise Products Partners during the first quarter worth $28,000. Crowley Wealth Management Inc. purchased a new stake in Enterprise Products Partners during the second quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in Enterprise Products Partners during the first quarter worth $34,000. Finally, North Capital Inc. purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at $38,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. TD Cowen initiated coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective on the stock. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Stifel Nicolaus upped 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.09.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $30.75 on Friday. The firm has a market capitalization of $66.57 billion, a P/E ratio of 11.43, a PEG ratio of 2.22 and a beta of 0.64. The stock has a fifty day moving average price of $31.42 and a 200 day moving average price of $31.33. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Thursday, October 30th. The oil and gas producer reported $0.61 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.07). The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

Enterprise Products Partners announced that its Board of Directors has approved a stock buyback program 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 repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.