WJ Financial Advisors LLC Makes New $529,000 Investment in Enterprise Products Partners L.P. $EPD

WJ Financial Advisors LLC bought a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, HoldingsChannel.com reports. The fund bought 16,927 shares of the oil and gas producer’s stock, valued at approximately $529,000.

Several other large investors have also recently modified their holdings of EPD. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at about $28,000. Traub Capital Management LLC purchased a new position in Enterprise Products Partners in the second quarter worth about $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Enterprise Products Partners in the third quarter worth approximately $32,000. Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $33,000. Finally, Davis Capital Management bought a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 32.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EPD has been the subject of several recent analyst reports. Wolfe Research cut Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research note on Wednesday, January 14th. UBS Group reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, December 16th. TD Cowen upped their price target on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, February 4th. 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. Finally, Morgan Stanley cut Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.00.

Enterprise Products Partners Trading Up 4.9%

EPD stock opened at $37.16 on Friday. The firm has a fifty day moving average price of $32.94 and a 200 day moving average price of $32.01. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $37.31. The firm has a market cap of $80.38 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.60. 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 released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The business had revenue of $13.79 billion during the quarter, compared to analyst estimates of $12.44 billion. During the same quarter last year, the business earned $0.74 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate 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 has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $0.55 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

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.