Jacobi Capital Management LLC Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Jacobi Capital Management LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 22,892 shares of the oil and gas producer’s stock after acquiring an additional 1,127 shares during the period. Jacobi Capital Management LLC’s holdings in Enterprise Products Partners were worth $591,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EPD. Beach Investment Counsel Inc. PA purchased a new position in Enterprise Products Partners in the first quarter worth approximately $60,331,000. Fractal Investments LLC purchased a new position in Enterprise Products Partners in the fourth quarter worth approximately $35,647,000. Thrivent Financial for Lutherans grew its position in Enterprise Products Partners by 46.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,214,611 shares of the oil and gas producer’s stock worth $70,909,000 after acquiring an additional 1,019,294 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Enterprise Products Partners by 11.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,402,476 shares of the oil and gas producer’s stock worth $140,598,000 after acquiring an additional 658,945 shares during the period. Finally, NorthCrest Asset Manangement LLC purchased a new position in Enterprise Products Partners in the first quarter worth approximately $13,138,000. 27.29% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Down 0.1 %

NYSE:EPD opened at $25.70 on Friday. The firm has a market cap of $56.04 billion, a PE ratio of 11.58 and a beta of 1.16. The stock has a fifty day moving average price of $25.65 and a 200 day moving average price of $25.43. Enterprise Products Partners L.P. has a 12-month low of $20.42 and a 12-month high of $28.65. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 1.01.

Enterprise Products Partners (NYSE:EPDGet Rating) last released its earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $16.06 billion during the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a return on equity of 19.08% and a net margin of 9.54%. Enterprise Products Partners’s revenue was up 69.9% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. Sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a yield of 7.39%. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 85.59%.

Insider Buying and Selling at Enterprise Products Partners

In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the purchase, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were bought at an average cost of $25.78 per share, for a total transaction of $167,570.00. Following the completion of the purchase, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carin Marcy Barth purchased 19,050 shares of the business’s stock in a transaction on Friday, June 24th. The stock was acquired at an average price of $23.64 per share, for a total transaction of $450,342.00. Following the completion of the purchase, the director now owns 19,050 shares of the company’s stock, valued at $450,342. The disclosure for this purchase can be found here. 37.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EPD shares. US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Mizuho raised their price target on Enterprise Products Partners from $30.00 to $32.00 in a research report on Tuesday, May 3rd. Truist Financial raised their price target on Enterprise Products Partners from $27.00 to $30.00 in a research report on Tuesday, May 3rd. TD Securities raised their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley raised their price target on Enterprise Products Partners from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 26th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Enterprise Products Partners Profile

(Get Rating)

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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