Enterprise Products Partners L.P. $EPD Position Boosted by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments increased its EPD position by 4.1% in the third quarter, adding 132,227 shares for a total of 3.34 million shares valued at approximately $119.1 million.
• Enterprise Products Partners reported quarterly earnings of $0.84 per share, exceeding the $0.75 consensus estimate, while revenue rose 60.8% year over year to $18.27 billion.
• The company declared a quarterly dividend of $0.56 per share, equivalent to an annualized yield of about 6.1%. Analysts maintain a consensus “Hold” rating with an average price target of $40.12.

Miller Howard Investments Inc. NY increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,344,118 shares of the oil and gas producer's stock after buying an additional 132,227 shares during the period. Enterprise Products Partners accounts for 3.2% of Miller Howard Investments Inc. NY's holdings, making the stock its 2nd biggest position. Miller Howard Investments Inc. NY owned about 0.15% of Enterprise Products Partners worth $119,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners during the second quarter worth approximately $37,000. Bravera Wealth grew its holdings in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock valued at $38,000 after purchasing an additional 900 shares during the period. Markowski Investments purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $46,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $48,000. Finally, West Paces Advisors Inc. purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Stock Down 0.3%

Shares of NYSE EPD opened at $36.98 on Tuesday. The stock has a market cap of $79.87 billion, a PE ratio of 12.84, a P/E/G ratio of 1.32 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 12-month low of $30.02 and a 12-month high of $40.17. The company has a 50-day moving average of $37.73 and a 200 day moving average of $37.11.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The business's revenue was up 60.8% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 3.10 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 30th. Enterprise Products Partners's dividend payout ratio is presently 77.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPD. Melius Research assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 22nd. They set a "hold" rating and a $42.00 target price on the stock. Stifel Nicolaus began coverage on shares of Enterprise Products Partners in a report on Thursday, September 10th. They issued a "hold" rating and a $40.00 price target for the company. Capital One Financial began coverage on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. NYSE: EPD is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.

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