Plan Group Financial LLC Raises Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• Plan Group Financial LLC increased its stake in Enterprise Products Partners L.P. by 39.7%, acquiring a total of 50,974 shares valued at approximately $1.74 million.
• Several institutional investors, including ING Groep NV and Truist Financial Corp, have also significantly modified their holdings in the company during the first quarter.
• Enterprise Products Partners recently announced a quarterly dividend increase to $0.545, resulting in an annualized yield of 7.0% for investors.

Plan Group Financial LLC boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 39.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,974 shares of the oil and gas producer's stock after purchasing an additional 14,485 shares during the quarter. Plan Group Financial LLC's holdings in Enterprise Products Partners were worth $1,740,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Diversified Trust Co grew its stake in shares of Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock worth $516,000 after buying an additional 1,821 shares during the last quarter. Cerity Partners LLC increased its position in Enterprise Products Partners by 18.9% in the 4th quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer's stock valued at $14,661,000 after acquiring an additional 74,710 shares during the period. Fiducient Advisors LLC lifted its stake in shares of Enterprise Products Partners by 37.3% in the fourth quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer's stock worth $2,428,000 after acquiring an additional 21,025 shares during the period. Aurora Private Wealth Inc. lifted its holdings in Enterprise Products Partners by 3,044.1% in the first quarter. Aurora Private Wealth Inc. now owns 200,720 shares of the oil and gas producer's stock valued at $6,853,000 after buying an additional 194,336 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its stake in Enterprise Products Partners by 20.0% during the first quarter. Cyndeo Wealth Partners LLC now owns 133,358 shares of the oil and gas producer's stock worth $4,553,000 after purchasing an additional 22,202 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Wall Street Analysts Forecast Growth

EPD has been the subject of several research analyst reports. TD Cowen began coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Barclays decreased 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. Citigroup reduced their price objective 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. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Scotiabank increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Stock Up 0.2%

Shares of EPD stock traded up $0.06 on Wednesday, hitting $31.21. The stock had a trading volume of 4,912,421 shares, compared to its average volume of 4,446,089. 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 business has a 50 day moving average of $31.37 and a 200 day moving average of $31.99. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63. The stock has a market cap of $67.70 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.80 and a beta of 0.66.

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 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%. Enterprise Products Partners's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a $0.545 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. Enterprise Products Partners's payout ratio is presently 81.04%.

Insider Transactions at Enterprise Products Partners

In related news, Director William C. Montgomery purchased 16,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was bought at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

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.