Whittier Trust Co. of Nevada Inc. Buys 2,037 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Whittier Trust Co. of Nevada Inc. grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 19.9% during the 1st quarter, HoldingsChannel reports. The firm owned 12,264 shares of the oil and gas producer’s stock after acquiring an additional 2,037 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Enterprise Products Partners were worth $419,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lee Danner & Bass Inc. acquired a new stake in Enterprise Products Partners during the 4th quarter valued at $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter worth $30,000. Security National Bank bought a new stake in shares of Enterprise Products Partners during the first quarter worth $30,000. Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the first quarter worth $31,000. Finally, National Bank of Canada FI raised its position in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 360 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EPD shares. Argus upgraded Enterprise Products Partners to a “strong-buy” rating in a research report on Monday, May 5th. Scotiabank lifted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.36.

Enterprise Products Partners Stock Down 0.9%

Shares of NYSE:EPD opened at $31.23 on Friday. The stock has a market cap of $67.73 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.35 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The business’s 50 day moving average is $31.49 and its 200 day moving average is $32.10.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.98%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners’s payout ratio is presently 80.15%.

About Enterprise Products Partners

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.