Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This represents a 10.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Enterprise Products Partners Trading Up 0.8%
NYSE:EPD traded up $0.24 on Tuesday, reaching $31.39. The company's stock had a trading volume of 6,030,340 shares, compared to its average volume of 4,781,245. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. The business's 50-day moving average price is $31.42 and its two-hundred day moving average price is $32.08. The firm has a market cap of $68.08 billion, a PE ratio of 11.76, a PEG ratio of 1.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. Enterprise Products Partners's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.95%. Enterprise Products Partners's dividend payout ratio is currently 81.65%.
Institutional Investors Weigh In On Enterprise Products Partners
Several institutional investors have recently added to or reduced their stakes in the stock. Colonial Trust Co SC raised its stake in shares of Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the period. Strategic Advisors LLC lifted its position in shares of Enterprise Products Partners by 3.5% in the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock worth $341,000 after purchasing an additional 337 shares in the last quarter. Per Stirling Capital Management LLC. boosted its holdings in Enterprise Products Partners by 1.5% during the first quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock worth $804,000 after purchasing an additional 339 shares during the last quarter. Tranquility Partners LLC grew its position in Enterprise Products Partners by 1.4% in the second quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer's stock valued at $743,000 after purchasing an additional 339 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in Enterprise Products Partners by 2.1% in the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer's stock valued at $521,000 after buying an additional 340 shares during the last quarter. 26.07% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on EPD shares. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Citigroup reduced their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. TD Cowen initiated coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective on the stock. Finally, Scotiabank lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.25.
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About Enterprise Products Partners
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Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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