Mitchell Mcleod Pugh & Williams Inc. Buys 37,345 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Enterprise Products Partners by 76.8% in the fourth quarter, buying 37,345 additional shares and bringing its total to 85,942 shares worth about $3.0 million.
• Wall Street sentiment on EPD is mixed: analysts currently have a Hold consensus, with an average price target of $39.67, though several firms recently raised targets or upgraded the stock.
• Enterprise Products Partners reported quarterly EPS of $0.68, slightly below expectations, but revenue of $14.39 billion topped estimates; the company also paid a $0.55 quarterly dividend, implying a 5.8% yield.

Mitchell Mcleod Pugh & Williams Inc. increased its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 76.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,942 shares of the oil and gas producer's stock after buying an additional 37,345 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Enterprise Products Partners were worth $3,000,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of EPD. PMV Capital Advisers LLC bought a new stake in Enterprise Products Partners in the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth about $31,000. Abich Financial Wealth Management LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter worth about $32,000. Texas Capital Bancshares Inc TX purchased a new stake in Enterprise Products Partners in the 3rd quarter worth about $32,000. Finally, Daytona Street Capital LLC purchased a new stake in Enterprise Products Partners in the 4th quarter worth about $42,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EPD shares. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Stifel Nicolaus increased their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Weiss Ratings lowered Enterprise Products Partners from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, May 21st. Wells Fargo & Company upgraded Enterprise Products Partners from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $40.00 to $42.00 in a research note on Wednesday, March 25th. Finally, TD Cowen reiterated a "hold" rating and issued a $38.00 target price (up from $34.00) on shares of Enterprise Products Partners in a research note on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.67.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $37.94 on Thursday. The firm has a market cap of $82.02 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.33 and a beta of 0.49. The firm's 50 day simple moving average is $38.02 and its 200-day simple moving average is $35.63. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analysts' expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The business's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.

Enterprise Products Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date was Thursday, April 30th. This represents a $2.20 annualized dividend and a dividend yield of 5.8%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 81.48%.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague purchased 2,665 shares of the business's stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $37.55 per share, for a total transaction of $100,070.75. Following the completion of the purchase, the chief executive officer owned 77,576 shares in the company, valued at approximately $2,912,978.80. This represents a 3.56% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 32.60% of the company's stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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