Argent Trust Co Boosts Stake in Enterprise Products Partners L.P. $EPD

Argent Trust Co increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 10.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,819 shares of the oil and gas producer’s stock after acquiring an additional 15,063 shares during the quarter. Argent Trust Co’s holdings in Enterprise Products Partners were worth $5,154,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in Enterprise Products Partners during the second quarter valued at about $28,000. Traub Capital Management LLC purchased a new position in Enterprise Products Partners in the second quarter valued at about $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $32,000. Financial Consulate Inc. bought a new position in shares of Enterprise Products Partners during the 3rd quarter valued at approximately $33,000. Finally, Davis Capital Management purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter worth approximately $45,000. 26.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on EPD. Jefferies Financial Group reiterated a “hold” rating and issued a $34.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a report on Friday, December 19th. Wells Fargo & Company lifted their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Barclays restated an “overweight” rating and set a $38.00 price target (up from $35.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.00.

Check Out Our Latest Stock Report on Enterprise Products Partners

Enterprise Products Partners News Roundup

Here are the key news stories impacting Enterprise Products Partners this week:

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $36.16 on Friday. The stock’s 50-day simple moving average is $33.77 and its two-hundred day simple moving average is $32.37. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $37.31. The firm has a market capitalization of $78.22 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.56 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPDGet Free Report) last issued its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to analyst estimates 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 was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.1%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s payout ratio is presently 82.71%.

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 that occurred on Monday, December 29th. The shares were acquired at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 32.60% of the company’s stock.

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

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