Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Nations Financial Group Inc. IA ADV

Key Points

• Nations Financial Group Inc. IA ADV increased its stake in Enterprise Products Partners by 8.7%, acquiring an additional 19,984 shares for a total ownership of 249,386 shares valued at approximately $8.51 million.
• Multiple equity research analysts have given mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average price target of $36.25.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545, reflecting a yield of 6.8% and a payout ratio of 81.04%.

Nations Financial Group Inc. IA ADV boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 8.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 249,386 shares of the oil and gas producer's stock after acquiring an additional 19,984 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Enterprise Products Partners were worth $8,514,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EPD. Diversified Trust Co raised its position in shares of Enterprise Products Partners by 13.7% in the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after buying an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. grew its holdings in shares of Enterprise Products Partners by 3,044.1% in the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after purchasing an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in shares of Enterprise Products Partners by 20.0% in the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock valued at $4,553,000 after purchasing an additional 22,202 shares during the period. Forbes J M & Co. LLP purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at about $290,000. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at about $1,146,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Scotiabank increased 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 research note on Thursday, June 5th. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Barclays lowered their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Finally, Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Insider Activity at Enterprise Products Partners

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

Enterprise Products Partners Stock Up 0.4%

Shares of NYSE:EPD opened at $31.88 on Friday. The firm's 50 day moving average price is $31.41 and its 200 day moving average price is $31.90. The stock has a market cap of $69.03 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66. 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 quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm 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%. The firm's revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a $0.545 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.8%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's payout ratio is currently 81.04%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.