Trust Co. of Toledo NA OH Buys Shares of 125,185 Enterprise Products Partners L.P. $EPD

Trust Co. of Toledo NA OH bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 125,185 shares of the oil and gas producer’s stock, valued at approximately $3,882,000.

Several other hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. increased 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 valued at $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enterprise Products Partners by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer’s stock valued at $375,662,000 after buying an additional 457,045 shares in the last quarter. Chickasaw Capital Management LLC increased its position in shares of Enterprise Products Partners by 1.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer’s stock valued at $171,022,000 after buying an additional 81,135 shares in the last quarter. BROOKFIELD Corp ON increased its holdings in Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer’s stock valued at $160,416,000 after acquiring an additional 128,545 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock valued at $148,415,000 after acquiring an additional 1,717,768 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EPD. Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Stifel Nicolaus dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 29th. Morgan Stanley dropped their price objective on Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. TD Cowen started coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a “hold” rating and a $33.00 price objective for the company. Finally, Scotiabank lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Enterprise Products Partners Stock Down 1.5%

Shares of NYSE:EPD opened at $30.81 on Friday. 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 1 year low of $27.77 and a 1 year high of $34.63. The stock has a market capitalization of $66.70 billion, a P/E ratio of 11.45, a PEG ratio of 2.22 and a beta of 0.64. The stock has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $31.40.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The business had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Enterprise Products Partners’s quarterly revenue was down 15.7% compared to the same quarter last year. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Insiders Place Their Bets

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