Delta Financial Advisors LLC Takes Position in Enterprise Products Partners L.P. $EPD

Delta Financial Advisors LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the third quarter, HoldingsChannel.com reports. The fund bought 17,686 shares of the oil and gas producer’s stock, valued at approximately $553,000.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in Enterprise Products Partners by 19.9% in the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares during the period. Park Avenue Securities LLC raised its position in Enterprise Products Partners by 8.2% during the second quarter. Park Avenue Securities LLC now owns 37,034 shares of the oil and gas producer’s stock valued at $1,148,000 after purchasing an additional 2,798 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 2.7% in the second quarter. Perigon Wealth Management LLC now owns 101,560 shares of the oil and gas producer’s stock worth $3,149,000 after acquiring an additional 2,718 shares during the last quarter. Register Financial Advisors LLC grew its stake in shares of Enterprise Products Partners by 14.9% during the second quarter. Register Financial Advisors LLC now owns 23,070 shares of the oil and gas producer’s stock worth $715,000 after buying an additional 3,000 shares during the last quarter. Finally, American National Bank & Trust increased its holdings in Enterprise Products Partners by 60.5% in the 2nd quarter. American National Bank & Trust now owns 34,519 shares of the oil and gas producer’s stock worth $1,070,000 after purchasing an additional 13,010 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction on 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 purchase, the director directly owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This trade represents a 9.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 32.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on EPD shares. Wolfe Research lowered Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Wednesday, January 14th. Citigroup reiterated a “buy” rating and set a $36.00 price target (up previously from $35.00) on shares of Enterprise Products Partners in a research note on Tuesday, December 16th. UBS Group reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Thursday. Finally, Stifel Nicolaus boosted their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.77.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $33.03 on Friday. The stock’s 50 day moving average is $32.26 and its 200 day moving average is $31.70. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $71.44 billion, a P/E ratio of 12.46, a PEG ratio of 2.33 and a beta of 0.59. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.53.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS 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 business had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period in the previous year, the business posted $0.65 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

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 management believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is 82.26%.

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.