698,092 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Acquired by Commerce Bank

Key Points

• Commerce Bank acquired 698,092 shares of Enterprise Products Partners L.P. during the 1st quarter, valued at approximately $23.83 million.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, resulting in a dividend yield of 7.1%.
• Institutional investors currently hold 26.07% of the company's stock, with notable recent increases from several investment firms.

Commerce Bank bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 698,092 shares of the oil and gas producer's stock, valued at approximately $23,833,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Colonial Trust Co SC lifted its stake in 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 acquiring an additional 314 shares in the last quarter. Strategic Advisors LLC raised its holdings 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 valued at $341,000 after purchasing an additional 337 shares during the last quarter. Full Sail Capital LLC raised its holdings in shares of Enterprise Products Partners by 3.9% in the fourth quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock valued at $285,000 after purchasing an additional 341 shares during the last quarter. Keystone Wealth Services LLC lifted its position in shares of Enterprise Products Partners by 2.6% in the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock worth $476,000 after purchasing an additional 349 shares in the last quarter. Finally, Duncan Williams Asset Management LLC boosted its holdings in Enterprise Products Partners by 4.5% during the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock worth $280,000 after purchasing an additional 357 shares during the last quarter. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 0.8%

EPD stock opened at $30.75 on Friday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The stock has a market cap of $66.69 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.79 and a beta of 0.66. The company has a fifty day moving average price of $31.38 and a two-hundred day moving average price of $32.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business's quarterly revenue was down 15.7% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 81.04%.

Insider Buying and Selling

In other news, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of Enterprise Products Partners stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on EPD. Barclays cut their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Scotiabank increased their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Citigroup dropped their price objective on 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. Finally, Stifel Nicolaus decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Company Profile

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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