Jump Financial LLC Has $10.35 Million Stake in Enterprise Products Partners L.P. $EPD

Key Points

• Jump Financial LLC has increased its holdings in Enterprise Products Partners L.P. by 74.3%, owning 303,200 shares worth approximately $10.35 million after purchasing an additional 129,249 shares in Q1.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545 per share, resulting in an annualized dividend yield of 6.8%.
• Analysts have a consensus rating of "Moderate Buy" for Enterprise Products Partners, with a consensus target price of $36.25, indicating optimism for future growth.

Jump Financial LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 74.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 303,200 shares of the oil and gas producer's stock after buying an additional 129,249 shares during the period. Jump Financial LLC's holdings in Enterprise Products Partners were worth $10,351,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Enterprise Products Partners in the 1st quarter valued at $27,000. Security National Bank acquired a new position in Enterprise Products Partners during the 1st quarter worth about $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners during the 1st quarter worth about $31,000. Colonial Trust Co SC raised its stake in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 314 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares in the company, valued at $4,319,826. The trade was 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 company insiders.

Enterprise Products Partners Price Performance

Shares of EPD traded down $0.03 during midday trading on Wednesday, hitting $31.65. The company's stock had a trading volume of 2,653,500 shares, compared to its average volume of 4,702,157. The company's fifty day simple moving average is $31.38 and its two-hundred day simple moving average is $31.79. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $68.52 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. Enterprise Products Partners's revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were given a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.9%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is 81.04%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EPD shares. Stifel Nicolaus reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Barclays dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 price objective for the company. Scotiabank lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Finally, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.83.

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.