Glenview Trust Co bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor bought 38,972 shares of the oil and gas producer’s stock, valued at approximately $1,433,000.
Several other institutional investors and hedge funds have also recently modified their holdings of EPD. Everest Financial Group LLC grew its stake in Enterprise Products Partners by 3.6% in the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after purchasing an additional 271 shares in the last quarter. Walker Asset Management LLC grew its position in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock worth $745,000 after buying an additional 282 shares in the last quarter. Hobbs Group Advisors LLC grew its position in shares of Enterprise Products Partners by 1.4% during the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after buying an additional 298 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Enterprise Products Partners by 3.8% during the first quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock valued at $307,000 after buying an additional 300 shares during the period. Finally, Mission Wealth Management LP increased its stake in shares of Enterprise Products Partners by 1.0% during the fourth quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock valued at $1,037,000 after buying an additional 328 shares during the period. Institutional investors own 26.07% of the company’s stock.
Enterprise Products Partners Stock Performance
EPD opened at $38.97 on Friday. The company has a market cap of $84.15 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm’s 50-day moving average price is $37.89 and its 200-day moving average price is $37.66. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is presently 77.78%.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Citigroup restated a “buy” rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. TD Cowen reaffirmed a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Scotiabank reiterated a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.
Check Out Our Latest Stock Analysis on EPD
Enterprise Products Partners Profile
Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.
Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.
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