Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Enterprise Products Partners by 65.3%, owning 4,347,247 shares valued at $148 million as of the latest reporting period.
• Equities analysts have given Enterprise Products Partners a consensus rating of "Moderate Buy," with a target price of $36.25; recent ratings vary from "hold" to "strong buy."
• Enterprise Products Partners recently declared a quarterly dividend of $0.545 per share, reflecting a yield of 6.8% and an increase from its previous dividend amount.

JPMorgan Chase & Co. boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 65.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,347,247 shares of the oil and gas producer's stock after purchasing an additional 1,717,768 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of Enterprise Products Partners worth $148,415,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EPD. Diversified Trust Co lifted its holdings in 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 worth $516,000 after acquiring an additional 1,821 shares during the last quarter. Aurora Private Wealth Inc. increased its stake in shares of Enterprise Products Partners by 3,044.1% during 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 acquiring an additional 194,336 shares during the period. Cyndeo Wealth Partners LLC grew its position in 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 worth $4,553,000 after buying an additional 22,202 shares during the last quarter. Forbes J M & Co. LLP acquired a new position in Enterprise Products Partners in the 1st quarter worth approximately $290,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth approximately $1,146,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Citigroup cut 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 research report on Tuesday, May 13th. Stifel Nicolaus dropped their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Finally, TD Cowen started coverage on shares of Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective for the company. 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 stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Buying and Selling at Enterprise Products Partners

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

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $31.88 on Friday. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The stock has a market cap of $69.03 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 quick ratio of 0.64 and a current ratio of 0.96. The firm's 50 day moving average price is $31.41 and its two-hundred day moving average price is $31.90.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the firm earned $0.64 EPS. Enterprise Products Partners's quarterly revenue was down 15.7% on a year-over-year basis. As a group, 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 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 represents a $2.18 annualized dividend and a yield of 6.8%. The ex-dividend date 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%.

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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