Argent Trust Co Increases Stake in Enterprise Products Partners L.P. $EPD

Argent Trust Co increased its holdings in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 10.1% during the third quarter, Holdings Channel.com reports. The firm owned 164,819 shares of the oil and gas producer’s stock after acquiring an additional 15,063 shares during the quarter. Argent Trust Co’s holdings in Enterprise Products Partners were worth $5,154,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EPD. Invesco Ltd. increased its holdings in shares of Enterprise Products Partners by 0.3% in the second quarter. Invesco Ltd. now owns 26,787,203 shares of the oil and gas producer’s stock worth $830,671,000 after buying an additional 69,505 shares during the period. American Century Companies Inc. increased its stake in Enterprise Products Partners by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 18,652,232 shares of the oil and gas producer’s stock worth $578,406,000 after purchasing an additional 252,513 shares during the period. Energy Income Partners LLC increased its stake in Enterprise Products Partners by 14.3% in the 2nd quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock worth $453,498,000 after purchasing an additional 1,834,659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Enterprise Products Partners by 3.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,355,504 shares of the oil and gas producer’s stock valued at $352,134,000 after purchasing an additional 351,931 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Enterprise Products Partners by 8.6% during the third quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer’s stock valued at $130,778,000 after purchasing an additional 331,066 shares during the period. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Up 0.5%

Shares of NYSE:EPD opened at $36.16 on Friday. The firm has a market capitalization of $78.22 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.56 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The stock has a 50 day moving average price of $33.77 and a 200-day moving average price of $32.37. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $37.31.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Trending Headlines about Enterprise Products Partners

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Insider Transactions at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EPD has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Wednesday, February 4th. Scotiabank restated a “sector perform” rating and issued a $37.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research report on Thursday, February 5th. Raymond James Financial downgraded shares of Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective for the company. in a research note on Monday, January 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 target price on shares of Enterprise Products Partners in a research note on Friday, December 19th. Finally, Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.00.

Get Our Latest Stock Report on EPD

About Enterprise Products Partners

(Free Report)

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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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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