Trinity Legacy Partners LLC Has $2.86 Million Stock Position in Enterprise Products Partners L.P. $EPD

Key Points

• Trinity Legacy Partners LLC increased its stock position in Enterprise Products Partners L.P. by 67.1%, now owning 90,148 shares worth approximately $2.86 million.
• Insider transactions revealed that Director John R. Rutherford and Director William C. Montgomery made significant purchases of the company's stock, increasing their holdings by 10.45% and 13.23% respectively.
• Enterprise Products Partners recently raised its quarterly dividend to $0.545 per share, reflecting a yield of 6.8%, while the company reported a decline in revenue compared to the previous year.

Trinity Legacy Partners LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 67.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,148 shares of the oil and gas producer's stock after purchasing an additional 36,188 shares during the period. Trinity Legacy Partners LLC's holdings in Enterprise Products Partners were worth $2,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Brooklyn Investment Group bought a new stake in Enterprise Products Partners during the 1st quarter worth approximately $27,000. Security National Bank bought a new stake in Enterprise Products Partners during the 1st quarter worth approximately $30,000. Alpine Bank Wealth Management bought a new stake in Enterprise Products Partners during the 1st quarter worth approximately $31,000. Colonial Trust Co SC grew its position in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 314 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in Enterprise Products Partners during the 1st quarter worth approximately $34,000. 26.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 29th. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a report on Tuesday. Scotiabank upped their price objective 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. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an "outperform" rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $35.83.

Enterprise Products Partners Trading Up 0.0%

Shares of EPD stock traded up $0.01 during trading hours on Wednesday, reaching $31.69. The company had a trading volume of 980,063 shares, compared to its average volume of 4,693,558. The firm has a market cap of $68.61 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 1.83 and a beta of 0.66. 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 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company has a 50 day moving average of $31.38 and a 200 day moving average of $31.79.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued 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 business had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business's quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 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 was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. Enterprise Products Partners's dividend payout ratio is currently 81.04%.

Insider Transactions at Enterprise Products Partners

In other news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were purchased 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. This 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 corporate insiders.

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.