ING Groep NV acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,081,200 shares of the oil and gas producer's stock, valued at approximately $71,052,000. ING Groep NV owned about 0.10% of Enterprise Products Partners as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of EPD. Alps Advisors Inc. boosted its stake in shares of Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. Truist Financial Corp boosted its stake in Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Enterprise Products Partners during the fourth quarter worth $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock worth $330,739,000 after acquiring an additional 851,188 shares in the last quarter. Finally, KDK Private Wealth Management LLC bought a new position in Enterprise Products Partners during the fourth quarter worth $22,333,000. 26.07% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on EPD shares. Barclays cut their target price 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. Stifel Nicolaus cut their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 target price on the stock. Citigroup cut their target price on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Argus raised 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.
Read Our Latest Report on EPD
Enterprise Products Partners Stock Performance
Shares of EPD stock opened at $30.75 on Monday. The firm has a 50-day moving average of $31.38 and a 200-day moving average of $32.02. The company has a market cap of $66.69 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.77 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63.
Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm 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 19.88%. The business's revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be issued a $0.545 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is currently 81.04%.
Insider Activity
In related news, Director William C. Montgomery acquired 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares of the company's stock, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Rutherford acquired 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. The trade was a 10.45% 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 Company Profile
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Free Report)
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.
Further Reading

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