Raymond James Trust N.A. Sells 6,389 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Raymond James Trust N.A. trimmed its position in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 160,599 shares of the oil and gas producer’s stock after selling 6,389 shares during the quarter. Raymond James Trust N.A.’s holdings in Enterprise Products Partners were worth $3,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of EPD. Zullo Investment Group Inc. grew its stake in Enterprise Products Partners by 133.1% in the 1st quarter. Zullo Investment Group Inc. now owns 1,000 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 571 shares during the last quarter. Sargent Bickham Lagudis LLC acquired a new position in Enterprise Products Partners in the 2nd quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC grew its stake in Enterprise Products Partners by 64.5% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 1,020 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 400 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $26,000. Finally, Fairfield Bush & CO. acquired a new position in Enterprise Products Partners in the 1st quarter valued at about $31,000. 27.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EPD has been the topic of a number of research reports. UBS Group upped their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 8th. Raymond James increased their target price on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 4th. TD Securities increased their target price on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Enterprise Products Partners has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Enterprise Products Partners Stock Performance

Shares of Enterprise Products Partners stock opened at $24.92 on Friday. The company has a 50 day moving average of $26.30 and a 200-day moving average of $26.00. Enterprise Products Partners L.P. has a 1-year low of $20.42 and a 1-year high of $28.65. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 1.00. The company has a market cap of $54.31 billion, a PE ratio of 11.23 and a beta of 1.15.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 18.97%. The company had revenue of $16.06 billion during the quarter, compared to the consensus estimate of $11.96 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 69.9% on a year-over-year basis. As a group, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were paid a $0.475 dividend. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.47. The ex-dividend date was Thursday, July 28th. This represents a $1.90 annualized dividend and a yield of 7.62%. Enterprise Products Partners’s dividend payout ratio is presently 85.59%.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average price of $25.78 per share, with a total value of $167,570.00. Following the purchase, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.50% of the stock is owned by insiders.

About Enterprise Products Partners

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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

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