Diversified Trust Co increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 40.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,101 shares of the oil and gas producer’s stock after acquiring an additional 4,355 shares during the period. Diversified Trust Co’s holdings in Enterprise Products Partners were worth $398,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Aspire Private Capital LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth about $12,846,400,000. WealthPLAN Partners LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $25,000. Ellevest Inc. purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $25,000. Heritage Wealth Management LLC purchased a new stake in Enterprise Products Partners in the 4th quarter worth approximately $25,000. Finally, Pacific Center for Financial Services purchased a new stake in Enterprise Products Partners in the 1st quarter worth approximately $27,000. 26.54% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Enterprise Products Partners news, Director William C. Montgomery purchased 50,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $26.60 per share, with a total value of $1,330,000.00. Following the transaction, the director now directly owns 114,758 shares in the company, valued at approximately $3,052,562.80. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 32.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 price target on shares of Enterprise Products Partners in a research note on Thursday, July 20th. StockNews.com assumed coverage on Enterprise Products Partners in a research note on Thursday, August 17th. They set a “buy” rating for the company. Mizuho raised their price target on shares of Enterprise Products Partners from $32.00 to $33.00 in a report on Wednesday, July 19th. Finally, TD Securities cut their price target on shares of Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.70.
Get Our Latest Stock Report on Enterprise Products Partners
Enterprise Products Partners Stock Performance
Shares of EPD opened at $27.37 on Friday. The company has a market capitalization of $59.44 billion, a PE ratio of 11.08 and a beta of 1.08. Enterprise Products Partners L.P. has a one year low of $23.14 and a one year high of $27.77. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.67. The company’s fifty day moving average price is $26.78 and its 200 day moving average price is $26.33.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last announced its earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.02). The firm had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $12.34 billion. Enterprise Products Partners had a return on equity of 19.71% and a net margin of 10.39%. The business’s revenue was down 33.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were given a $0.50 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend was Friday, July 28th. Enterprise Products Partners’s payout ratio is currently 80.97%.
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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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