Missouri Trust & Investment Co reduced its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 45.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,154 shares of the oil and gas producer’s stock after selling 968 shares during the quarter. Missouri Trust & Investment Co’s holdings in Enterprise Products Partners were worth $30,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Groesbeck Investment Management Corp NJ grew its stake in shares of Enterprise Products Partners by 16.1% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 23,010 shares of the oil and gas producer’s stock valued at $596,000 after purchasing an additional 3,193 shares during the period. TCG Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $244,000. PSI Advisors LLC grew its stake in shares of Enterprise Products Partners by 2.0% during the 1st quarter. PSI Advisors LLC now owns 20,131 shares of the oil and gas producer’s stock valued at $521,000 after purchasing an additional 386 shares during the period. Wealth Advisors Inc. grew its stake in shares of Enterprise Products Partners by 19.7% during the 1st quarter. Wealth Advisors Inc. now owns 31,815 shares of the oil and gas producer’s stock valued at $849,000 after purchasing an additional 5,235 shares during the period. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $251,000. 26.54% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on EPD shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, July 20th. Mizuho lifted their price objective on Enterprise Products Partners from $32.00 to $33.00 in a research report on Wednesday, July 19th. TD Securities lowered their price objective on Enterprise Products Partners from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Finally, StockNews.com started coverage on Enterprise Products Partners in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.70.
Insider Transactions at Enterprise Products Partners
In other news, Director William C. Montgomery acquired 50,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $26.60 per share, with a total value of $1,330,000.00. Following the acquisition, the director now directly owns 114,758 shares of the company’s stock, valued at $3,052,562.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 32.60% of the company’s stock.
Enterprise Products Partners Stock Up 0.4 %
NYSE EPD opened at $26.70 on Friday. The stock’s 50 day moving average is $26.62 and its 200 day moving average is $26.20. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12 month low of $22.90 and a 12 month high of $27.28. The stock has a market cap of $57.99 billion, a PE ratio of 10.81 and a beta of 1.08.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas producer reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Enterprise Products Partners had a return on equity of 19.71% and a net margin of 10.39%. The business had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $12.34 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down 33.7% on a year-over-year basis. Research analysts predict that Enterprise Products Partners L.P. will post 2.52 EPS for the current fiscal year.
Enterprise Products Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.49%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Friday, July 28th. Enterprise Products Partners’s dividend payout ratio is 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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