HWG Holdings LP Increases Position in Enterprise Products Partners L.P. $EPD

HWG Holdings LP grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 108.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,223 shares of the oil and gas producer’s stock after purchasing an additional 19,906 shares during the quarter. HWG Holdings LP’s holdings in Enterprise Products Partners were worth $1,195,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Enterprise Products Partners in the first quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 1st quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners during the second quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $29,000. Finally, Traub Capital Management LLC acquired a new stake in Enterprise Products Partners during the second quarter worth approximately $31,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EPD has been the subject of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus upped 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 note on Friday, October 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Monday, December 1st. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price target on shares of Enterprise Products Partners in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.64.

Enterprise Products Partners Price Performance

Shares of EPD opened at $32.10 on Tuesday. The company has a market capitalization of $69.43 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.53. The firm has a 50-day simple moving average of $31.64 and a 200-day simple moving average of $31.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88.

Enterprise Products Partners (NYSE:EPD) last posted 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). Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.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 previous year, the business posted $0.65 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.26%.

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

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.