18,035 Shares in Enterprise Products Partners L.P. $EPD Purchased by Somerset Trust Co

Somerset Trust Co acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,035 shares of the oil and gas producer’s stock, valued at approximately $559,000.

Several other hedge funds have also recently bought and sold shares of EPD. ING Groep NV purchased a new stake in Enterprise Products Partners in the 1st quarter worth about $71,052,000. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 5.0% in the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after acquiring an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Enterprise Products Partners by 65.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after acquiring an additional 1,717,768 shares in the last quarter. Truist Financial Corp lifted its stake in Enterprise Products Partners by 293.6% in the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after acquiring an additional 1,506,055 shares in the last quarter. Finally, Walnut Private Equity Partners LLC purchased a new stake in Enterprise Products Partners in the 1st quarter worth about $24,069,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 29th. TD Cowen assumed coverage on Enterprise Products Partners in a research report on Monday, July 7th. They issued a “hold” rating and a $33.00 target price on the stock. Morgan Stanley dropped their target price on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 26th. Mizuho set a $38.00 target price on Enterprise Products Partners and gave the stock an “outperform” rating in a research report on Friday, July 11th. Finally, Barclays dropped their target price on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.83.

Enterprise Products Partners Stock Down 0.6%

Shares of EPD stock opened at $31.75 on Friday. The stock’s 50 day simple moving average is $31.56 and its 200 day simple moving average is $31.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a market capitalization of $68.75 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.00 and a beta of 0.69.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue was down 15.7% on a year-over-year basis. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Thursday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio (DPR) is 81.04%.

Insider Buying and Selling

In related news, Director John R. Rutherford acquired 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, with a total value of $470,250.00. Following the purchase, the director owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Montgomery acquired 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, the director directly owned 136,920 shares in the company, valued at $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by company insiders.

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.