Fayez Sarofim & Co Buys 18,013 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Fayez Sarofim & Co increased its holdings in Enterprise Products Partners by 0.1%, owning approximately 17.5 million shares worth about $597.8 million, marking it as their 24th largest holding.
• Enterprise Products Partners recently declared a quarterly dividend of $0.545 per share, increasing from the previous dividend of $0.54, resulting in an annual yield of 7.0%.
• Analysts maintain a consensus rating of "Moderate Buy" for EPD with a target price of $36.25, amidst recent fluctuations in revenue and earnings per share.

Fayez Sarofim & Co grew its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,510,893 shares of the oil and gas producer's stock after buying an additional 18,013 shares during the quarter. Enterprise Products Partners makes up about 1.5% of Fayez Sarofim & Co's investment portfolio, making the stock its 24th biggest position. Fayez Sarofim & Co owned 0.81% of Enterprise Products Partners worth $597,822,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EPD. Security National Bank bought a new stake in shares of Enterprise Products Partners during the first quarter worth $30,000. Alpine Bank Wealth Management acquired a new stake in Enterprise Products Partners in the 1st quarter worth about $31,000. National Bank of Canada FI raised its position in shares of Enterprise Products Partners by 55.4% in the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 360 shares in the last quarter. Colonial Trust Co SC increased its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners in the 1st quarter valued at approximately $34,000. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EPD shares. Citigroup lowered their target price 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. Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Scotiabank upped 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 report on Thursday, June 5th. Finally, Argus upgraded shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction dated 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 purchase, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction dated 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 owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Stock Performance

NYSE:EPD traded up $0.27 during midday trading on Friday, reaching $31.46. 5,434,247 shares of the company traded hands, compared to its average volume of 4,556,419. The company has a fifty day moving average price of $31.38 and a 200 day moving average price of $31.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market capitalization of $68.23 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.80 and a beta of 0.66. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.88%. The business had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The business's quarterly revenue was down 15.7% compared to the same quarter last year. On average, 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 will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 annualized dividend and a yield of 6.9%. Enterprise Products Partners's payout ratio is currently 81.04%.

Enterprise Products Partners Company 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.