Midwest Trust Co Invests $529,000 in Enterprise Products Partners L.P. $EPD

Midwest Trust Co acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,057 shares of the oil and gas producer’s stock, valued at approximately $529,000.

A number of other large investors have also recently bought and sold shares of EPD. Baer Investment Advisory LLC raised its position in shares of Enterprise Products Partners by 47.4% during the 2nd quarter. Baer Investment Advisory LLC now owns 64,667 shares of the oil and gas producer’s stock worth $2,008,000 after purchasing an additional 20,801 shares during the period. Parkside Financial Bank & Trust increased its position in Enterprise Products Partners by 2.6% in the second quarter. Parkside Financial Bank & Trust now owns 50,131 shares of the oil and gas producer’s stock worth $1,555,000 after buying an additional 1,275 shares during the period. ZEGA Investments LLC lifted its stake in Enterprise Products Partners by 46.1% in the second quarter. ZEGA Investments LLC now owns 24,560 shares of the oil and gas producer’s stock valued at $762,000 after buying an additional 7,755 shares during the last quarter. Prospera Financial Services Inc boosted its holdings in shares of Enterprise Products Partners by 213.0% during the second quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock valued at $30,395,000 after acquiring an additional 666,967 shares during the period. Finally, RWA Wealth Partners LLC increased its holdings in shares of Enterprise Products Partners by 0.5% in the 2nd quarter. RWA Wealth Partners LLC now owns 78,696 shares of the oil and gas producer’s stock worth $2,440,000 after acquiring an additional 417 shares during the period. Institutional investors own 26.07% of the company’s stock.

Analysts Set New Price Targets

EPD has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Morgan Stanley reduced their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. Scotiabank lowered their target price on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Enterprise Products Partners Price Performance

NYSE EPD opened at $31.47 on Wednesday. Enterprise Products Partners L.P. has a 12 month low of $27.77 and a 12 month high of $34.63. The firm has a market capitalization of $68.14 billion, a PE ratio of 11.70, a P/E/G ratio of 2.22 and a beta of 0.67. The company’s 50 day simple moving average is $31.28 and its 200 day simple moving average is $31.34. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners announced that its board has approved a share repurchase program on Thursday, October 30th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is presently 82.26%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.