Dorsey & Whitney Trust CO LLC Buys 18,457 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Dorsey & Whitney Trust CO LLC increased its holdings in Enterprise Products Partners L.P. by 91.3%, acquiring 38,676 shares valued at approximately $1.32 million in the first quarter of 2023.
• The company recently revealed a quarterly dividend of $0.545 per share, up from the previous $0.54, providing a yield of 6.9% for investors.
• Enterprise Products Partners reported a 15.7% decline in revenue year-over-year with an EPS of $0.66, slightly missing analysts' estimates, as earnings for the current year are expected to stay around 2.9 per share.

Dorsey & Whitney Trust CO LLC increased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 91.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,676 shares of the oil and gas producer's stock after buying an additional 18,457 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in Enterprise Products Partners were worth $1,320,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Enterprise Products Partners during the first quarter worth about $27,000. Security National Bank acquired a new stake in Enterprise Products Partners during the first quarter worth about $30,000. Alpine Bank Wealth Management acquired a new stake in Enterprise Products Partners during the first quarter worth about $31,000. N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $34,000. Finally, Colonial Trust Co SC grew its position in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after buying an additional 314 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of EPD traded up $0.2740 on Friday, hitting $31.8840. The company's stock had a trading volume of 2,870,647 shares, compared to its average volume of 4,815,803. The company has a market capitalization of $69.04 billion, a PE ratio of 11.85, a PEG ratio of 1.83 and a beta of 0.66. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a 50 day moving average price of $31.37 and a 200 day moving average price of $31.82.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its 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 business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm's revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Thursday, July 31st. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.04%.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on EPD shares. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup decreased their price objective on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Scotiabank lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Barclays decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Finally, Stifel Nicolaus decreased their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock 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 given a Hold rating to the company. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and an average target price of $36.25.

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.