Jacobi Capital Management LLC Increases Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Jacobi Capital Management LLC lifted its position in shares of Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 5.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 22,892 shares of the oil and gas producer’s stock after buying an additional 1,127 shares during the period. Jacobi Capital Management LLC’s holdings in Enterprise Products Partners were worth $591,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. FinTrust Capital Advisors LLC raised its stake in shares of Enterprise Products Partners by 38.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. Activest Wealth Management raised its stake in shares of Enterprise Products Partners by 29.3% in the 1st quarter. Activest Wealth Management now owns 1,802 shares of the oil and gas producer’s stock valued at $47,000 after purchasing an additional 408 shares in the last quarter. Archer Investment Corp raised its stake in shares of Enterprise Products Partners by 2.1% in the 4th quarter. Archer Investment Corp now owns 20,993 shares of the oil and gas producer’s stock valued at $461,000 after purchasing an additional 433 shares in the last quarter. Addison Capital Co raised its stake in Enterprise Products Partners by 2.6% during the first quarter. Addison Capital Co now owns 17,573 shares of the oil and gas producer’s stock worth $454,000 after acquiring an additional 438 shares during the period. Finally, Meixler Investment Management Ltd. raised its stake in Enterprise Products Partners by 0.7% during the first quarter. Meixler Investment Management Ltd. now owns 65,425 shares of the oil and gas producer’s stock worth $1,689,000 after acquiring an additional 475 shares during the period. 27.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EPD shares. Raymond James increased their price objective on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Truist Financial increased their price objective on shares of Enterprise Products Partners from $27.00 to $30.00 in a research note on Tuesday, May 3rd. Morgan Stanley increased their price objective on shares of Enterprise Products Partners from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 26th. UBS Group increased their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, July 8th. Finally, TD Securities raised their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Enterprise Products Partners Trading Down 0.1 %

Enterprise Products Partners stock opened at $25.70 on Friday. The firm has a 50 day simple moving average of $25.65 and a 200-day simple moving average of $25.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.67. The stock has a market capitalization of $56.04 billion, a PE ratio of 11.58 and a beta of 1.16. Enterprise Products Partners L.P. has a 12-month low of $20.42 and a 12-month high of $28.65.

Enterprise Products Partners (NYSE:EPDGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 19.08%. The firm had revenue of $16.06 billion for the quarter, compared to analysts’ expectations of $11.96 billion. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.5 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be paid a dividend of $0.475 per share. The ex-dividend date is Thursday, July 28th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.39%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. Enterprise Products Partners’s dividend payout ratio (DPR) is 85.59%.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director Carin Marcy Barth bought 19,050 shares of the firm’s stock in a transaction on Friday, June 24th. The stock was bought at an average price of $23.64 per share, with a total value of $450,342.00. Following the purchase, the director now directly owns 19,050 shares of the company’s stock, valued at approximately $450,342. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Enterprise Products Partners news, Director Carin Marcy Barth acquired 19,050 shares of Enterprise Products Partners stock in a transaction that occurred on Friday, June 24th. The stock was acquired at an average price of $23.64 per share, with a total value of $450,342.00. Following the purchase, the director now owns 19,050 shares in the company, valued at $450,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Rutherford acquired 6,500 shares of Enterprise Products Partners stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average cost of $25.78 per share, with a total value of $167,570.00. Following the purchase, the director now owns 113,941 shares in the company, valued at approximately $2,937,398.98. The disclosure for this purchase can be found here. Company insiders own 37.50% of the company’s stock.

Enterprise Products Partners Profile

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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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