Commonwealth Equity Services LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,251,459 shares of the oil and gas producer's stock after purchasing an additional 67,885 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Enterprise Products Partners worth $42,725,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Argent Trust Co boosted its stake in shares of Enterprise Products Partners by 4.1% in the 1st quarter. Argent Trust Co now owns 142,208 shares of the oil and gas producer's stock worth $4,855,000 after buying an additional 5,650 shares during the last quarter. Delta Financial Group Inc. boosted its stake in shares of Enterprise Products Partners by 29.8% in the 1st quarter. Delta Financial Group Inc. now owns 10,435 shares of the oil and gas producer's stock worth $351,000 after buying an additional 2,396 shares during the last quarter. Scotia Capital Inc. boosted its stake in shares of Enterprise Products Partners by 2.7% in the 1st quarter. Scotia Capital Inc. now owns 161,773 shares of the oil and gas producer's stock worth $5,523,000 after buying an additional 4,207 shares during the last quarter. Cheviot Value Management LLC purchased a new position in shares of Enterprise Products Partners in the 1st quarter worth approximately $77,000. Finally, Pathway Financial Advisers LLC boosted its stake in shares of Enterprise Products Partners by 1.8% in the 1st quarter. Pathway Financial Advisers LLC now owns 274,924 shares of the oil and gas producer's stock worth $9,386,000 after buying an additional 4,858 shares during the last quarter. 26.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on EPD shares. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Scotiabank upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Stifel Nicolaus dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.25.
Read Our Latest Research Report on Enterprise Products Partners
Insider Buying and Selling at Enterprise Products Partners
In other news, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director directly owned 136,920 shares of the company's stock, 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 Stock Performance
Enterprise Products Partners stock opened at $31.04 on Tuesday. The firm has a market capitalization of $67.32 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.77 and a beta of 0.66. The company's 50-day moving average is $31.38 and its 200 day moving average is $32.00. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63. 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 released its quarterly earnings data 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). The business had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.88%. Enterprise Products Partners's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 81.04%.
Enterprise Products Partners Company Profile
(
Free Report)
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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