Trust Co. of Toledo NA OH Acquires Shares of 125,185 Enterprise Products Partners L.P. $EPD

Trust Co. of Toledo NA OH acquired a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, HoldingsChannel reports. The institutional investor acquired 125,185 shares of the oil and gas producer’s stock, valued at approximately $3,882,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Enterprise Products Partners in the first quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 1st quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the 2nd quarter valued at $29,000. Security National Bank bought a new position in shares of Enterprise Products Partners during the first quarter worth about $30,000. Finally, Alpine Bank Wealth Management bought a new position in shares of Enterprise Products Partners during the first quarter worth about $31,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction dated 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 owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Montgomery bought 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, 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 owned by company insiders.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $30.81 on Friday. 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 business’s fifty day moving average price is $31.58 and its two-hundred day moving average price is $31.40. The firm has a market capitalization of $66.70 billion, a PE ratio of 11.45, a P/E/G ratio of 2.22 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data 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). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. During the same period last year, the business earned $0.64 EPS. The firm’s revenue was down 15.7% on a year-over-year basis. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.04%.

Analysts Set New Price Targets

A number of research firms have commented on EPD. Barclays reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. Scotiabank reduced their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, September 19th. Mizuho set a $38.00 price objective on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They set a “hold” rating and a $33.00 price objective on the stock. Finally, Stifel Nicolaus reduced 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 report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $35.75.

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.