American National Bank & Trust Buys 13,010 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• American National Bank & Trust increased its stake in Enterprise Products Partners by 60.5%, acquiring an additional 13,010 shares, bringing their total holdings to 34,519 shares worth approximately $1,070,000.
• Enterprise Products Partners recently declared a quarterly dividend of $0.545 per share, which is an increase from the previous dividend and offers a dividend yield of 6.9%.
• The company reported a decrease in revenue by 15.7% year-over-year, with $11.36 billion for the quarter, missing the consensus estimate of $15.24 billion.

American National Bank & Trust lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 60.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,519 shares of the oil and gas producer's stock after buying an additional 13,010 shares during the quarter. American National Bank & Trust's holdings in Enterprise Products Partners were worth $1,070,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Strategic Advisors LLC raised its stake 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 buying an additional 337 shares during the period. Per Stirling Capital Management LLC. raised its stake in Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer's stock valued at $804,000 after purchasing an additional 339 shares during the period. Keystone Wealth Services LLC raised its stake in Enterprise Products Partners by 2.6% during the 1st quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock valued at $476,000 after purchasing an additional 349 shares during the period. Duncan Williams Asset Management LLC raised its stake in Enterprise Products Partners by 4.5% during the 1st quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock valued at $280,000 after purchasing an additional 357 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Enterprise Products Partners by 1.2% during the 1st quarter. Russell Investments Group Ltd. now owns 32,403 shares of the oil and gas producer's stock valued at $1,106,000 after purchasing an additional 372 shares during the period. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.59 on Friday. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market cap of $68.39 billion, a PE ratio of 11.74, a P/E/G ratio of 2.25 and a beta of 0.69. The stock has a 50 day moving average price of $31.56 and a 200 day moving average price of $31.57.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company 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 10.71% and a return on equity of 19.81%. Enterprise Products Partners's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is 81.04%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EPD. Scotiabank decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, September 19th. Barclays cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Finally, Stifel Nicolaus cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average target price of $35.75.

Insiders Place Their Bets

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

Enterprise Products Partners 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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