Arbor Trust Wealth Advisors LLC decreased its position in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,230 shares of the oil and gas producer’s stock after selling 2,000 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Enterprise Products Partners were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in EPD. Sargent Bickham Lagudis LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC boosted its position in Enterprise Products Partners by 64.5% in the first 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 in the last quarter. Zullo Investment Group Inc. boosted its position in Enterprise Products Partners by 133.1% in the first 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 in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $26,000. Finally, Fairfield Bush & CO. acquired a new stake in Enterprise Products Partners in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 27.29% of the company’s stock.
Enterprise Products Partners Price Performance
Enterprise Products Partners stock traded down $1.30 during midday trading on Friday, reaching $23.62. 541,899 shares of the stock were exchanged, compared to its average volume of 4,133,797. The company’s fifty day moving average is $26.30 and its 200-day moving average is $26.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.65 and a current ratio of 0.87. The firm has a market cap of $51.47 billion, a PE ratio of 11.23 and a beta of 1.15. Enterprise Products Partners L.P. has a 52 week low of $20.42 and a 52 week high of $28.65.
Enterprise Products Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.475 dividend. The ex-dividend date was Thursday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 8.04%. Enterprise Products Partners’s dividend payout ratio is 85.59%.
Wall Street Analysts Forecast Growth
EPD has been the topic of a number of research analyst reports. US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. UBS Group raised 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. TD Securities raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Raymond James raised their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 4th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.00.
Insiders Place Their Bets
In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average cost of $25.78 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 37.50% of the company’s stock.
Enterprise Products Partners Company Profile
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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