Enterprise Products Partners L.P. $EPD Shares Purchased by Marco Investment Management LLC

Marco Investment Management LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 529,013 shares of the oil and gas producer’s stock after purchasing an additional 4,658 shares during the quarter. Enterprise Products Partners comprises about 1.4% of Marco Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. Marco Investment Management LLC’s holdings in Enterprise Products Partners were worth $16,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 boosted its stake 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 acquiring an additional 11,333 shares during the period. Phillips Financial Management LLC grew its holdings in shares of Enterprise Products Partners by 18.4% during the first quarter. Phillips Financial Management LLC now owns 9,922 shares of the oil and gas producer’s stock valued at $339,000 after purchasing an additional 1,542 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Enterprise Products Partners by 0.9% during the 1st quarter. Cerity Partners LLC now owns 474,624 shares of the oil and gas producer’s stock worth $16,204,000 after purchasing an additional 4,398 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 1.0%

Shares of EPD stock opened at $31.28 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The firm has a market capitalization of $67.72 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67. The stock has a fifty day moving average of $31.30 and a two-hundred day moving average of $31.33. 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 quarterly earnings data on Wednesday, October 29th. 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 for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s payout ratio is 82.26%.

Enterprise Products Partners declared that its board has initiated a stock repurchase plan on Thursday, October 30th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent research reports. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Morgan Stanley cut their target price 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. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Wednesday, October 8th. Finally, Scotiabank dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $36.00.

About Enterprise Products Partners

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.