Claro Advisors LLC Acquires 4,439 Shares of Enterprise Products Partners L.P. $EPD

Claro Advisors LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 15.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 32,564 shares of the oil and gas producer’s stock after purchasing an additional 4,439 shares during the period. Claro Advisors LLC’s holdings in Enterprise Products Partners were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Enterprise Products Partners during the first quarter worth about $27,000. Wealth Preservation Advisors LLC bought a new stake in Enterprise Products Partners in the 1st quarter worth about $28,000. Crowley Wealth Management Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth about $29,000. N.E.W. Advisory Services LLC bought a new stake in Enterprise Products Partners in the 1st quarter worth about $34,000. Finally, Pandora Wealth Inc. bought a new stake in Enterprise Products Partners in the 1st quarter worth about $48,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 1.3%

EPD opened at $30.18 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The stock has a market cap of $65.34 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 2.22 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company’s 50-day moving average price is $31.36 and its two-hundred day moving average price is $31.33.

Enterprise Products Partners (NYSE:EPD) last released 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). The company had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners announced that its Board of Directors has approved a share buyback plan on Thursday, October 30th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EPD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Scotiabank reduced their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One equities research 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 has an average rating of “Moderate Buy” and a consensus price target of $36.00.

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.