Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 53.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,036 shares of the oil and gas producer's stock after purchasing an additional 8,335 shares during the period. Thoroughbred Financial Services LLC's holdings in Enterprise Products Partners were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ING Groep NV bought a new stake in Enterprise Products Partners in the first quarter worth $71,052,000. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after acquiring an additional 1,967,188 shares during the period. Truist Financial Corp increased its holdings in Enterprise Products Partners by 293.6% during the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock valued at $68,927,000 after buying an additional 1,506,055 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter worth $36,279,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Enterprise Products Partners by 8.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after buying an additional 851,188 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

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 bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at 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 stock was bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares in the company, valued at $4,319,826. This trade represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

EPD has been the topic of a number of recent analyst reports. Citigroup reduced their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a research report on Friday, July 11th. Stifel Nicolaus decreased 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 report on Tuesday, July 29th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Finally, Barclays lowered 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. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.25.

Enterprise Products Partners Price Performance

EPD traded up $0.27 on Friday, hitting $31.46. 5,434,247 shares of the company's stock were exchanged, compared to its average volume of 4,774,363. The firm has a 50-day moving average price of $31.36 and a 200-day moving average price of $31.97. The stock has a market cap of $68.23 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 1.80 and a beta of 0.66. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released 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 business had revenue of $11.36 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 15.7% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

Enterprise Products Partners 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.