Northern Trust Corp Raises Stock Holdings in Enterprise Products Partners L.P. $EPD

Northern Trust Corp boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 99.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 573,525 shares of the oil and gas producer's stock after acquiring an additional 285,980 shares during the quarter. Northern Trust Corp's holdings in Enterprise Products Partners were worth $19,580,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after buying an additional 5,425 shares during the period. Aptus Capital Advisors LLC increased its stake in Enterprise Products Partners by 822.2% in the 4th quarter. Aptus Capital Advisors LLC now owns 75,919 shares of the oil and gas producer's stock worth $2,381,000 after buying an additional 67,687 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Enterprise Products Partners by 3.9% during the fourth quarter. Ameriprise Financial Inc. now owns 345,061 shares of the oil and gas producer's stock valued at $10,820,000 after purchasing an additional 13,111 shares in the last quarter. BIP Wealth LLC grew its position in shares of Enterprise Products Partners by 12.3% during the fourth quarter. BIP Wealth LLC now owns 23,691 shares of the oil and gas producer's stock valued at $743,000 after purchasing an additional 2,603 shares in the last quarter. Finally, Chapman Financial Group LLC purchased a new position in shares of Enterprise Products Partners in the fourth quarter valued at $392,000. 26.07% of the stock is owned by institutional investors.

Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, with a total value of $470,250.00. Following the acquisition, the director owned 158,586 shares in the company, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Enterprise Products Partners Trading Down 0.4%

Shares of NYSE EPD traded down $0.13 during trading hours on Friday, reaching $31.68. The stock had a trading volume of 5,019,068 shares, compared to its average volume of 3,512,463. The business's fifty day moving average price is $31.52 and its two-hundred day moving average price is $31.71. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.98 and a beta of 0.69. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63.

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 analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion for the quarter, compared to analysts' expectations of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm's quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Analysts expect 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 was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were issued a $0.545 dividend. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Analyst Upgrades and Downgrades

Several research firms recently commented on EPD. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Citigroup dropped their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley dropped their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 26th. Barclays dropped their price target 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. Finally, Scotiabank boosted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently 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.