Argent Trust Co Grows Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Argent Trust Co lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,558 shares of the oil and gas producer’s stock after buying an additional 1,900 shares during the quarter. Argent Trust Co’s holdings in Enterprise Products Partners were worth $4,282,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont boosted its position in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock valued at $104,000 after acquiring an additional 300 shares during the last quarter. Griffin Asset Management Inc. increased its stake in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after purchasing an additional 305 shares during the period. Evanson Asset Management LLC grew its position in shares of Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after buying an additional 306 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC increased its stake in Enterprise Products Partners by 3.2% in the fourth quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD traded down $0.48 during midday trading on Thursday, hitting $29.21. 688,710 shares of the company traded hands, compared to its average volume of 4,355,655. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $63.25 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.37 and a beta of 0.78. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The business has a 50 day simple moving average of $33.01 and a two-hundred day simple moving average of $31.85.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 7.33%. Enterprise Products Partners’s payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EPD. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Truist Financial increased their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Finally, Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $36.89.

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