IFP Advisors Inc Purchases 31,362 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• IFP Advisors Inc boosted its stake in Enterprise Products Partners by 81.9% in the fourth quarter, buying 31,362 additional shares and bringing its total holdings to 69,655 shares worth about $2.23 million.
• Enterprise Products Partners reported mixed quarterly results, with earnings per share of $0.68 falling short of estimates while revenue of $14.39 billion came in above expectations. The company also said revenue declined 6.7% from a year earlier.
• The partnership continues to offer a 5.6% dividend yield after paying a quarterly dividend of $0.55 per share, while analysts currently rate the stock a consensus “Hold” with an average price target of $39.67.

IFP Advisors Inc raised its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 81.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,655 shares of the oil and gas producer's stock after buying an additional 31,362 shares during the quarter. IFP Advisors Inc's holdings in Enterprise Products Partners were worth $2,233,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Arete Wealth Advisors LLC increased its holdings in Enterprise Products Partners by 1.5% in the 3rd quarter. Arete Wealth Advisors LLC now owns 21,145 shares of the oil and gas producer's stock valued at $661,000 after buying an additional 317 shares during the period. ORG Wealth Partners LLC grew its holdings in shares of Enterprise Products Partners by 0.5% during the 4th quarter. ORG Wealth Partners LLC now owns 66,266 shares of the oil and gas producer's stock valued at $2,125,000 after purchasing an additional 317 shares during the last quarter. Walker Asset Management LLC grew its holdings in shares of Enterprise Products Partners by 1.7% during the 4th quarter. Walker Asset Management LLC now owns 19,678 shares of the oil and gas producer's stock valued at $631,000 after purchasing an additional 326 shares during the last quarter. Mission Wealth Management LP grew its holdings in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer's stock valued at $1,037,000 after purchasing an additional 328 shares during the last quarter. Finally, Montag A & Associates Inc. grew its holdings in shares of Enterprise Products Partners by 5.9% during the 4th quarter. Montag A & Associates Inc. now owns 5,880 shares of the oil and gas producer's stock valued at $189,000 after purchasing an additional 330 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Up 0.2%

EPD opened at $39.55 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market capitalization of $85.49 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.47 and a beta of 0.52. The company's 50 day moving average price is $38.05 and its two-hundred day moving average price is $35.01.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The company's revenue was down 6.7% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners's payout ratio is presently 81.48%.

Insiders Place Their Bets

In other Enterprise Products Partners news, CEO Aj Teague bought 2,665 shares of Enterprise Products Partners stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $37.55 per share, with a total value of $100,070.75. Following the acquisition, the chief executive officer directly owned 77,576 shares of the company's stock, valued at $2,912,978.80. The trade was a 3.56% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EPD has been the topic of several research reports. Wells Fargo & Company raised shares of Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $40.00 to $42.00 in a report on Wednesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Enterprise Products Partners in a report on Wednesday, March 4th. Scotiabank reaffirmed a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group lifted their price target on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a report on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Hold" and an average price target of $39.67.

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.

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