First National Bank of Omaha Buys Shares of 44,360 Enterprise Products Partners L.P. $EPD

Key Points

• First National Bank of Omaha initiated a position in Enterprise Products Partners by purchasing 44,360 shares valued at approximately $1.63 million. Institutional and hedge-fund investors collectively own 26.07% of EPD.
• Enterprise Products Partners reported quarterly EPS of $0.84, exceeding the $0.75 consensus estimate, while revenue rose 60.8% year over year to $18.27 billion.
• The company raised its quarterly dividend to $0.56 per share, representing an annualized payout of $2.24 and a 5.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $40.

First National Bank of Omaha bought a new position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 44,360 shares of the oil and gas producer's stock, valued at approximately $1,626,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Palms Capital LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $1,830,000. Oxbow Advisors LLC raised its stake in shares of Enterprise Products Partners by 3.0% in the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer's stock valued at $42,610,000 after acquiring an additional 39,052 shares in the last quarter. Texas Yale Capital Corp. lifted its holdings in Enterprise Products Partners by 4.9% in the 4th quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer's stock worth $61,104,000 after purchasing an additional 88,475 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Enterprise Products Partners by 7.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer's stock worth $144,592,000 after purchasing an additional 327,807 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC boosted its position in Enterprise Products Partners by 7.0% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 410,581 shares of the oil and gas producer's stock worth $13,163,000 after purchasing an additional 26,752 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 1.4%

Shares of EPD stock opened at $38.09 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm has a market cap of $82.25 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock has a 50 day moving average of $37.63 and a 200-day moving average of $37.47.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. Enterprise Products Partners's quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were given a dividend of $0.56 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is currently 77.78%.

Analyst Ratings Changes

A number of research firms have recently commented on EPD. UBS Group reissued a "buy" rating and issued a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. TD Cowen reiterated a "hold" rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday. Stifel Nicolaus boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Scotiabank restated a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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