Oppenheimer & Co. Inc. Buys 38,279 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Oppenheimer & Co. increased its Enterprise Products Partners stake by 9.2% in the third quarter, adding 38,279 shares to reach 455,801 shares valued at approximately $16.2 million.
• Enterprise Products Partners reported quarterly EPS of $0.84, exceeding the $0.75 analyst consensus, while revenue rose 60.8% year over year to $18.27 billion.
• The company declared a quarterly dividend of $0.56 per share, equating to $2.24 annually and a 6.1% yield; analysts overall maintain a “Hold” rating with an average price target of $40.12.

Oppenheimer & Co. Inc. grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 9.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 455,801 shares of the oil and gas producer's stock after buying an additional 38,279 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Enterprise Products Partners were worth $16,231,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Energy Income Partners LLC acquired a new position in Enterprise Products Partners in the 2nd quarter worth about $508,461,000. Bank of America Corp DE bought a new stake in shares of Enterprise Products Partners during the second quarter worth about $416,553,000. BlackRock Inc. bought a new stake in shares of Enterprise Products Partners during the second quarter worth about $255,325,000. Berkley W R Corp bought a new stake in shares of Enterprise Products Partners during the second quarter worth about $250,887,000. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Enterprise Products Partners by 4.1% in the third quarter. Miller Howard Investments Inc. NY now owns 3,344,118 shares of the oil and gas producer's stock valued at $119,084,000 after buying an additional 132,227 shares during the period. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Down 0.3%

NYSE EPD opened at $36.98 on Tuesday. The firm has a market capitalization of $79.87 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The business's 50-day moving average price is $37.73 and its two-hundred day moving average price is $37.11. 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.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The firm's revenue was up 60.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, analysts expect that Enterprise Products Partners L.P. will post 3.10 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $0.56 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.1%. Enterprise Products Partners's payout ratio is 77.78%.

Analyst Upgrades and Downgrades

EPD has been the subject of a number of research reports. Melius Research started coverage on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. They issued a "hold" rating and a $42.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Enterprise Products Partners in a report on Thursday, September 10th. They set a "hold" rating and a $40.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, October 8th. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 price target on shares of Enterprise Products Partners in a research report on Tuesday, September 22nd. Finally, Capital One Financial started coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They set an "equal weight" rating and a $42.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of "Hold" and an average price target of $40.12.

Enterprise Products Partners Company 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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