Vestmark Advisory Solutions Inc. Purchases Shares of 17,440 Enterprise Products Partners L.P. $EPD

Vestmark Advisory Solutions Inc. acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 17,440 shares of the oil and gas producer’s stock, valued at approximately $545,000.

Several other large investors also recently modified their holdings of EPD. Invesco Ltd. boosted its holdings in shares of Enterprise Products Partners by 0.3% during the 2nd quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after buying an additional 69,505 shares during the period. American Century Companies Inc. boosted its holdings in shares of Enterprise Products Partners by 1.4% during the second quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after acquiring an additional 252,513 shares during the period. Energy Income Partners LLC boosted its holdings in shares of Enterprise Products Partners by 14.3% during the second quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after acquiring an additional 1,834,659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Enterprise Products Partners by 3.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,355,504 shares of the oil and gas producer’s stock valued at $352,134,000 after purchasing an additional 351,931 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Enterprise Products Partners by 8.6% during the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer’s stock worth $130,778,000 after purchasing an additional 331,066 shares during the period. 26.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen upped their price objective on Enterprise Products Partners from $33.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, February 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Wolfe Research downgraded shares of Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research note on Wednesday, January 14th. Barclays reiterated an “overweight” rating and issued a $38.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Finally, Wells Fargo & Company increased their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.00.

Enterprise Products Partners Trading Up 0.1%

EPD opened at $35.97 on Friday. The stock has a market capitalization of $77.81 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 2.55 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $37.31. The company has a 50-day simple moving average of $33.69 and a 200 day simple moving average of $32.33.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results 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. The company had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.1%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Enterprise Products Partners declared that its Board of Directors has approved a stock buyback program on Thursday, October 30th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the purchase, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners 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.