FORA Capital LLC Acquires New Shares in Enterprise Products Partners L.P. $EPD

Key Points

• FORA Capital LLC has acquired 37,249 shares of Enterprise Products Partners L.P. (NYSE: EPD), valued at approximately $1,272,000, indicating growing interest from institutional investors.
• Recent transactions show director William C. Montgomery purchased 16,000 shares at $31.55 each, boosting his ownership by 13.23% and highlighting potential insider confidence in the company.
• Enterprise Products Partners recently increased its quarterly dividend to $0.545, resulting in an annualized dividend yield of 6.9%, reflecting the company's commitment to returning value to shareholders.

FORA Capital LLC acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,249 shares of the oil and gas producer's stock, valued at approximately $1,272,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Diversified Trust Co raised its holdings in Enterprise Products Partners by 13.7% during 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 in the last quarter. Aurora Private Wealth Inc. raised its holdings in 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 worth $6,853,000 after acquiring an additional 194,336 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Enterprise Products Partners by 20.0% during 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 acquiring an additional 22,202 shares in the last quarter. Forbes J M & Co. LLP bought a new stake in Enterprise Products Partners during the first quarter worth about $290,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in Enterprise Products Partners during the fourth quarter worth about $1,146,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EPD shares. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Scotiabank upped their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Barclays dropped their price objective on 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. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and an average price target of $35.83.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, with a total value of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director 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. Company insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded up $0.31 during trading on Thursday, reaching $31.93. 2,784,448 shares of the company traded hands, compared to its average volume of 4,144,796. The company's 50 day moving average is $31.41 and its two-hundred day moving average is $31.78. The firm has a market capitalization of $69.14 billion, a PE ratio of 11.87, a PEG ratio of 1.84 and a beta of 0.66. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its 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). The company had revenue of $11.36 billion for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business's revenue was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend 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.