Enterprise Products Partners L.P. $EPD Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 213.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 980,094 shares of the oil and gas producer’s stock after acquiring an additional 666,967 shares during the period. Prospera Financial Services Inc’s holdings in Enterprise Products Partners were worth $30,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Enterprise Products Partners by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer’s stock worth $4,703,000 after buying an additional 9,979 shares in the last quarter. Forbes J M & Co. LLP acquired a new position in shares of Enterprise Products Partners during the first quarter valued at approximately $290,000. Corigliano Investment Advisers LLC bought a new stake in Enterprise Products Partners during the first quarter worth approximately $4,384,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Enterprise Products Partners by 1.6% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer’s stock worth $60,702,000 after purchasing an additional 31,652 shares during the period. Finally, Nuveen LLC bought a new position in Enterprise Products Partners during the 1st quarter valued at $22,284,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EPD. Morgan Stanley dropped 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. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Scotiabank decreased their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Enterprise Products Partners Stock Up 1.0%

Shares of Enterprise Products Partners 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 company has a market cap of $67.72 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.22 and a beta of 0.67. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $31.30 and a 200 day moving average price of $31.33.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) 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 return on equity of 19.81% and a net margin of 10.71%.Enterprise Products Partners’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

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. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.26%.

Enterprise Products Partners announced that its board has authorized a share 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are 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.