World Investment Advisors Purchases 766 Shares of Enterprise Products Partners L.P. $EPD

World Investment Advisors lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,703 shares of the oil and gas producer’s stock after purchasing an additional 766 shares during the period. World Investment Advisors’ holdings in Enterprise Products Partners were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Enterprise Products Partners during the first quarter worth approximately $27,000. Wealth Preservation Advisors LLC bought a new position in Enterprise Products Partners during the 1st quarter worth $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the 2nd quarter worth $29,000. N.E.W. Advisory Services LLC bought a new position in Enterprise Products Partners during the 1st quarter worth $34,000. Finally, North Capital Inc. bought a new position in Enterprise Products Partners during the 1st quarter worth $38,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 2.6%

Shares of EPD stock opened at $30.75 on Friday. The stock’s fifty day moving average price is $31.42 and its two-hundred day moving average price is $31.33. The company has a market cap of $66.57 billion, a PE ratio of 11.43, a P/E/G ratio of 2.22 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Thursday, October 30th. 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 10.71% and a return on equity of 19.81%. The business had revenue of $12.02 billion during the quarter, compared to analyst estimates of $11.83 billion. During the same period in the prior year, the business posted $0.65 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners announced that its board has authorized a stock buyback plan on Thursday, October 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

Analysts Set New Price Targets

A number of equities analysts have commented on EPD shares. Morgan Stanley lowered 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 note on Tuesday, August 26th. Scotiabank lowered their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, September 19th. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen began coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.09.

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.