True North Advisors LLC Purchases New Position in Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• True North Advisors LLC acquired 151,301 shares of Enterprise Products Partners (NYSE: EPD), valued at approximately $5.17 million, making it the firm's 17th largest holding.
• Analysts have varying views on EPD, with a consensus rating of "Moderate Buy" and a target price of $36.25, reflecting the mixed sentiment among five hold ratings, nine buy ratings, and two strong buy ratings.
• Enterprise Products Partners recently announced a quarterly dividend of $0.545, indicating a 6.9% dividend yield and an increase from the previous quarter's dividend.

True North Advisors LLC bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 151,301 shares of the oil and gas producer's stock, valued at approximately $5,165,000. Enterprise Products Partners comprises about 0.9% of True North Advisors LLC's investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds have also modified their holdings of EPD. Security National Bank acquired a new stake in Enterprise Products Partners during the 1st quarter worth $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners during the first quarter worth about $31,000. National Bank of Canada FI boosted its position in Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 360 shares during the period. Colonial Trust Co SC raised its stake in Enterprise Products Partners by 44.9% in the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 314 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in Enterprise Products Partners during the first quarter worth about $34,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Up 0.8%

Shares of EPD stock traded up $0.26 during trading hours on Tuesday, hitting $31.40. 1,911,114 shares of the company were exchanged, compared to its average volume of 4,756,857. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a market capitalization of $68.09 billion, a PE ratio of 11.67, a PEG ratio of 1.81 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. The business has a 50 day moving average of $31.38 and a two-hundred day moving average of $31.91.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.88%. The business had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the firm posted $0.64 earnings per share. Enterprise Products Partners's quarterly revenue was down 15.7% compared to the same quarter last year. Analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 81.04%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Scotiabank boosted their price target on shares of 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. Stifel Nicolaus decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.25.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the acquisition, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were 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 $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

About Enterprise Products Partners

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.