Enterprise Products Partners L.P. $EPD Shares Purchased by Milestone Asset Management LLC

Milestone Asset Management LLC grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 40.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 48,328 shares of the oil and gas producer’s stock after purchasing an additional 13,935 shares during the quarter. Milestone Asset Management LLC’s holdings in Enterprise Products Partners were worth $1,499,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Enterprise Products Partners by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 314,768 shares of the oil and gas producer’s stock worth $10,746,000 after acquiring an additional 20,801 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Enterprise Products Partners by 6,192.9% in the first quarter. Penserra Capital Management LLC now owns 11,516 shares of the oil and gas producer’s stock valued at $392,000 after purchasing an additional 11,333 shares during the period. Capital Advisors Inc. OK increased its position in Enterprise Products Partners by 297.9% during the first quarter. Capital Advisors Inc. OK now owns 133,146 shares of the oil and gas producer’s stock worth $4,546,000 after purchasing an additional 99,688 shares during the last quarter. Finally, Financial Counselors Inc. raised its stake in Enterprise Products Partners by 51.2% during the first quarter. Financial Counselors Inc. now owns 43,525 shares of the oil and gas producer’s stock worth $1,486,000 after purchasing an additional 14,738 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Stock Down 0.7%

Shares of NYSE:EPD opened at $30.57 on Tuesday. The firm has a market cap of $66.18 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64. The company has a fifty day simple moving average of $31.39 and a 200 day simple moving average of $31.34. 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 L.P. has a 12-month low of $27.77 and a 12-month high of $34.63.

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

Enterprise Products Partners announced that its board has approved a stock repurchase plan on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Announces Dividend

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

Analyst Ratings Changes

EPD has been the subject of a number of research analyst reports. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a report on Friday, July 11th. Morgan Stanley reduced their price target on shares of 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. Scotiabank dropped their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, TD Cowen started coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.09.

Enterprise Products Partners 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.