Invesco Ltd. decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,717,698 shares of the oil and gas producer's stock after selling 359,020 shares during the quarter. Invesco Ltd. owned approximately 1.23% of Enterprise Products Partners worth $912,142,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pandora Wealth Inc. bought a new stake in Enterprise Products Partners during the first quarter valued at about $48,000. Fiduciary Family Office LLC bought a new stake in Enterprise Products Partners during the first quarter valued at about $207,000. True North Advisors LLC bought a new stake in Enterprise Products Partners during the first quarter valued at about $5,165,000. JPMorgan Chase & Co. boosted its position in Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock valued at $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Finally, Townsquare Capital LLC boosted its position in Enterprise Products Partners by 8.0% during the first quarter. Townsquare Capital LLC now owns 19,303 shares of the oil and gas producer's stock valued at $659,000 after purchasing an additional 1,431 shares in the last quarter. Institutional investors own 26.07% of the company's stock.
Enterprise Products Partners Stock Performance
NYSE:EPD traded up $0.19 during trading hours on Tuesday, reaching $31.33. The company had a trading volume of 3,439,510 shares, compared to its average volume of 4,767,681. The firm has a market cap of $67.95 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. Enterprise Products Partners L.P. has a 1-year low of $27.77 and a 1-year high of $34.63. The business's 50 day moving average price is $31.38 and its 200-day moving average price is $31.91. 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 (NYSE:EPD - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $11.36 billion for 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%. Enterprise Products Partners's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. Research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is 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%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on EPD shares. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Scotiabank increased their price target 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. Citigroup decreased their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Stifel Nicolaus decreased their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a research note on Friday, July 11th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.
Get Our Latest Analysis on Enterprise Products Partners
Insider Activity at Enterprise Products Partners
In other Enterprise Products Partners news, Director William C. Montgomery bought 16,000 shares of Enterprise Products Partners stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $31.55 per share, with a total value of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 32.60% of the company's stock.
Enterprise Products Partners 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.
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