Hilltop National Bank Takes Position in Enterprise Products Partners L.P. $EPD

Key Points

• Hilltop National Bank acquired a new stake in Enterprise Products Partners L.P. by purchasing 29,647 shares worth approximately $919,000 in the second quarter.
• Two directors of Enterprise Products, John R. Rutherford and William C. Montgomery, increased their stakes by acquiring 15,000 and 16,000 shares respectively, signaling confident outlooks for the company.
• There has been a reduction in the price targets set by various analysts for the company's stock, with Morgan Stanley lowering their target from $35 to $33, indicating a cautious sentiment among investors.

Hilltop National Bank acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,647 shares of the oil and gas producer's stock, valued at approximately $919,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners in the 1st quarter worth about $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners in the 2nd quarter worth about $29,000. Security National Bank acquired a new position in Enterprise Products Partners in the 1st quarter worth about $30,000. Finally, Alpine Bank Wealth Management acquired a new position in Enterprise Products Partners in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Buying and Selling

In related news, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 price of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director directly owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Morgan Stanley reduced their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Tuesday, August 26th. Barclays reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Scotiabank reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, September 19th. Stifel Nicolaus reduced their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price objective for the company. Two 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.75.

Enterprise Products Partners Price Performance

EPD stock opened at $31.43 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The business has a 50 day simple moving average of $31.56 and a 200-day simple moving average of $31.50. The firm has a market capitalization of $68.04 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. Enterprise Products Partners's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Thursday, July 31st were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) 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.

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