Tred Avon Family Wealth LLC Makes New $1.02 Million Investment in Enterprise Products Partners L.P. $EPD

Tred Avon Family Wealth LLC acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,474 shares of the oil and gas producer’s stock, valued at approximately $1,015,000.

A number of other institutional investors have also modified their holdings of EPD. Quantum Financial Planning Services Inc. acquired a new stake in shares of Enterprise Products Partners during the second quarter worth $310,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Enterprise Products Partners by 7.0% in 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 acquiring an additional 9,979 shares during the period. Westbourne Investment Advisors Inc. purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at about $657,000. Tectonic Advisors LLC increased its stake in shares of Enterprise Products Partners by 10.0% during the third quarter. Tectonic Advisors LLC now owns 678,769 shares of the oil and gas producer’s stock worth $21,225,000 after acquiring an additional 61,669 shares during the period. Finally, Bridges Investment Management Inc. lifted its position in Enterprise Products Partners by 5.9% in the second quarter. Bridges Investment Management Inc. now owns 203,738 shares of the oil and gas producer’s stock valued at $6,318,000 after purchasing an additional 11,375 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the acquisition, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. This represents a 9.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 32.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EPD shares. UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. Jefferies Financial Group began coverage on shares of Enterprise Products Partners in a research report on Monday, January 12th. They set a “hold” rating and a $33.00 target price on the stock. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target for the company. in a report on Thursday, December 18th. 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 note on Friday, October 31st. Finally, Wolfe Research cut shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.77.

Enterprise Products Partners Stock Up 0.8%

EPD stock opened at $32.88 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.53. The firm has a market capitalization of $71.13 billion, a PE ratio of 12.41, a P/E/G ratio of 2.31 and a beta of 0.59. The company’s 50 day simple moving average is $32.13 and its 200-day simple moving average is $31.65.

Enterprise Products Partners (NYSE:EPD) last posted its 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 net margin of 10.92% and a return on equity of 19.40%. Enterprise Products Partners’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners declared that its Board of Directors has authorized a stock buyback plan on Thursday, October 30th that allows the company to repurchase $5.00 billion in 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 generally a sign that the company’s board believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a $0.55 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 6.7%. Enterprise Products Partners’s payout ratio is currently 83.02%.

Enterprise Products Partners Company Profile

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.