MidFirst Bank Acquires Shares of 13,850 Enterprise Products Partners L.P. $EPD

MidFirst Bank bought a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,850 shares of the oil and gas producer’s stock, valued at approximately $509,000.

Several other hedge funds also recently made changes to their positions in EPD. Auto Owners Insurance Co raised its position in shares of Enterprise Products Partners by 3,106.0% in the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock valued at $102,784,000 after buying an additional 31,060,000 shares in the last quarter. BlackRock Inc. bought a new position in Enterprise Products Partners during the 2nd quarter worth $255,325,000. Goldman Sachs Group Inc. increased its stake in Enterprise Products Partners by 12.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock worth $582,317,000 after acquiring an additional 1,940,583 shares during the period. Deutsche Bank AG acquired a new position in Enterprise Products Partners in the 2nd quarter valued at $67,915,000. Finally, Corient Private Wealth LLC lifted its position in shares of Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after acquiring an additional 1,313,976 shares during the period. 26.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of recent analyst reports. Scotiabank restated a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Wolfe Research upgraded shares of Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Citigroup reaffirmed a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and a consensus target price of $39.93.

Enterprise Products Partners Stock Down 0.7%

Shares of EPD opened at $38.61 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market capitalization of $83.38 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.30 and a beta of 0.49. The stock has a fifty day moving average of $37.60 and a 200-day moving average of $37.41.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion for the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the previous year, the company posted $0.66 EPS. Enterprise Products Partners’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 5.8%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 77.78%.

About Enterprise Products Partners

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.