FORA Capital LLC Buys 21,710 Shares of Enterprise Products Partners L.P. $EPD

FORA Capital LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 98.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 43,654 shares of the oil and gas producer’s stock after acquiring an additional 21,710 shares during the period. FORA Capital LLC’s holdings in Enterprise Products Partners were worth $1,365,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of EPD. Winnow Wealth LLC bought a new position in Enterprise Products Partners in the second quarter worth approximately $28,000. Traub Capital Management LLC bought a new stake in Enterprise Products Partners during the 2nd quarter valued at $31,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $32,000. Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners in the 3rd quarter worth $33,000. Finally, Davis Capital Management bought a new position in shares of Enterprise Products Partners during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Buying and Selling

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction on Monday, December 29th. The stock was bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $37.01 on Friday. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $38.22. The stock’s 50-day moving average is $34.78 and its 200 day moving average is $32.75. The company has a market cap of $80.00 billion, a P/E ratio of 13.91, a PEG ratio of 1.47 and a beta of 0.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.04 and a quick ratio of 0.74.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $13.79 billion during the quarter, compared to the consensus estimate of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. Research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price on the stock. in a research report on Monday, January 5th. Citigroup reaffirmed a “buy” rating and issued a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.71.

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.