Linscomb Wealth Inc. Buys 101,056 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Linscomb Wealth Inc. increased its stake in Enterprise Products Partners L.P. by 58.6%, acquiring an additional 101,056 shares, bringing their total holdings to 273,397 shares valued at approximately $9.33 million.
• Several institutional investors, including JPMorgan Chase and Alps Advisors, have also raised their stakes in Enterprise Products Partners, highlighting strong institutional interest in the company.
• Enterprise Products Partners announced an increase in its quarterly dividend to $0.545 per share, resulting in an annualized dividend yield of 6.9%.

Linscomb Wealth Inc. raised its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 58.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 273,397 shares of the oil and gas producer's stock after acquiring an additional 101,056 shares during the period. Linscomb Wealth Inc.'s holdings in Enterprise Products Partners were worth $9,334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. grew 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 worth $1,410,891,000 after buying an additional 1,967,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Enterprise Products Partners by 8.8% in the 4th 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 buying an additional 851,188 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Enterprise Products Partners by 11.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer's stock worth $182,832,000 after buying an additional 580,850 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after buying an additional 1,717,768 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Enterprise Products Partners by 10.1% in the 4th quarter. Stifel Financial Corp now owns 3,822,076 shares of the oil and gas producer's stock worth $119,861,000 after buying an additional 351,387 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research note on Friday, July 11th. Stifel Nicolaus dropped their price target on shares of 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. 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 note on Thursday, June 5th. Finally, TD Cowen initiated coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They set a "hold" rating and a $33.00 price target for the company. Five 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 company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. The trade was a 10.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William C. Montgomery acquired 16,000 shares of Enterprise Products Partners stock in a transaction that occurred 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 purchase, the director owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $31.46 on Monday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The stock has a market cap of $68.23 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The firm has a 50-day moving average of $31.38 and a two-hundred day moving average of $31.93.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The company's revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS. On average, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 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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