Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 293.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,018,964 shares of the oil and gas producer's stock after buying an additional 1,506,055 shares during the quarter. Truist Financial Corp owned approximately 0.09% of Enterprise Products Partners worth $68,927,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EPD. Smartleaf Asset Management LLC boosted its position in Enterprise Products Partners by 14.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after purchasing an additional 308 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of 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 valued at $32,000 after buying an additional 314 shares in the last quarter. Tidemark LLC grew its stake in Enterprise Products Partners by 54.3% in the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 318 shares during the period. Axxcess Wealth Management LLC increased its holdings in Enterprise Products Partners by 2.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer's stock worth $450,000 after acquiring an additional 325 shares in the last quarter. Finally, Avantax Planning Partners Inc. raised its position in Enterprise Products Partners by 1.4% during the fourth quarter. Avantax Planning Partners Inc. now owns 23,348 shares of the oil and gas producer's stock worth $732,000 after acquiring an additional 330 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.5%

Shares of EPD stock traded down $0.17 during trading on Monday, hitting $31.34. 2,675,973 shares of the stock traded hands, compared to its average volume of 4,477,399. The firm has a market capitalization of $67.97 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.31 and a beta of 0.64. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. 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 firm's fifty day moving average price is $31.26 and its 200-day moving average price is $32.08.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. As a group, research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th were paid a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a yield of 6.83%. The ex-dividend date was Wednesday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 80.15%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Scotiabank boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 11th. Barclays decreased their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.20.

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.