Glenview Trust Co Purchases Shares of 38,972 Enterprise Products Partners L.P. $EPD

Glenview Trust Co acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 38,972 shares of the oil and gas producer’s stock, valued at approximately $1,433,000.

Several other hedge funds also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners during the 3rd quarter valued at approximately $31,000. N.E.W. Advisory Services LLC purchased a new position in Enterprise Products Partners during the second quarter valued at $37,000. Bravera Wealth increased its holdings in Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock valued at $38,000 after acquiring an additional 900 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $48,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth $48,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.2%

Shares of EPD stock opened at $38.97 on Friday. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The stock’s 50 day simple moving average is $37.89 and its two-hundred day simple moving average is $37.66. The company has a market cap of $84.15 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm 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 company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Research analysts predict that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Analysts Set New Price Targets

EPD has been the subject of a number of research analyst reports. Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research report on Tuesday, August 11th. Citigroup reissued a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. UBS Group reaffirmed a “buy” rating and set a $45.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, June 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Company 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.