Enterprise Products Partners L.P. $EPD Shares Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 705.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,323 shares of the oil and gas producer’s stock after buying an additional 162,301 shares during the quarter. Enterprise Products Partners makes up 1.7% of Ellsworth Advisors LLC’s holdings, making the stock its 12th biggest position. Ellsworth Advisors LLC’s holdings in Enterprise Products Partners were worth $6,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $71,052,000. Alps Advisors Inc. grew its position in shares of Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock valued at $1,410,891,000 after purchasing an additional 1,967,188 shares during the period. JPMorgan Chase & Co. grew its position in shares of Enterprise Products Partners by 65.3% in the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after purchasing an additional 1,717,768 shares during the period. Truist Financial Corp grew its position in shares of Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock valued at $68,927,000 after purchasing an additional 1,506,055 shares during the period. Finally, Walnut Private Equity Partners LLC acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at about $24,069,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $31.68 on Thursday. 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 firm’s 50-day moving average is $31.54 and its two-hundred day moving average is $31.69. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The company has a market capitalization of $68.59 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS 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 for the quarter, compared to analysts’ expectations of $15.24 billion. During the same period last year, the firm earned $0.64 earnings per share. Enterprise Products Partners’s revenue for the quarter was down 15.7% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, July 31st. Enterprise Products Partners’s payout ratio is presently 81.04%.

Analyst Upgrades and Downgrades

EPD has been the topic of several research analyst reports. Scotiabank lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Barclays decreased their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 2nd. Stifel Nicolaus decreased 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 note on Tuesday, July 29th. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Finally, TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.83.

Insider Transactions at Enterprise Products Partners

In other news, Director John R. Rutherford bought 15,000 shares of Enterprise Products Partners stock in a transaction on 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 purchase, the director directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William C. Montgomery purchased 16,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at approximately $4,319,826. The trade was a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Enterprise Products Partners Company 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.