Enterprise Products Partners L.P. $EPD Shares Acquired by US Bancorp DE

US Bancorp DE raised its stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 755,464 shares of the oil and gas producer’s stock after purchasing an additional 37,836 shares during the quarter. US Bancorp DE’s holdings in Enterprise Products Partners were worth $23,623,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Winnow Wealth LLC purchased a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at $28,000. Traub Capital Management LLC acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC acquired a new stake in Enterprise Products Partners during the 3rd quarter worth approximately $32,000. Financial Consulate Inc. purchased a new position in Enterprise Products Partners in the third quarter valued at approximately $33,000. Finally, Davis Capital Management acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the purchase, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This trade represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Trading Up 0.5%

NYSE:EPD opened at $36.16 on Friday. The stock has a market cap of $78.22 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.56 and a beta of 0.60. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $37.31. 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 business’s 50-day simple moving average is $33.77 and its 200 day simple moving average is $32.37.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) 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 the consensus estimate of $12.44 billion. Enterprise Products Partners had a return on equity of 19.43% and a net margin of 11.05%.Enterprise Products Partners’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EPD shares. Morgan Stanley lowered shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price objective for the company. in a research report on Thursday, December 18th. Wolfe Research downgraded Enterprise Products Partners from a “peer perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Wednesday, January 14th. Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research report on Monday, January 5th. Barclays reaffirmed an “overweight” rating and issued a $38.00 target price (up from $35.00) on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enterprise Products Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

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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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Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPDFree Report).

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

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