First National Bank of Omaha Takes $1.63 Million Position in Enterprise Products Partners L.P. $EPD

First National Bank of Omaha purchased a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 44,360 shares of the oil and gas producer’s stock, valued at approximately $1,626,000.

Several other institutional investors have also made changes to their positions in the business. Navigoe LLC bought a new stake in Enterprise Products Partners in the second quarter valued at about $152,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $59,000. Energy Income Partners LLC acquired a new position in shares of Enterprise Products Partners in the 2nd quarter worth approximately $508,461,000. Citizens Financial Group Inc. RI bought a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $990,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in Enterprise Products Partners in the second quarter valued at $1,473,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EPD has been the subject of a number of analyst reports. Scotiabank reissued a “sector perform” rating and set a $40.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. UBS Group reiterated a “buy” rating and set a $45.00 target price on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Citigroup restated a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $38.09 on Thursday. The stock’s fifty day moving average is $37.63 and its 200-day moving average is $37.47. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a market capitalization of $82.25 billion, a PE ratio of 13.22, a PEG ratio of 1.29 and a beta of 0.49. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.