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

Jacobi Capital Management LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 5.2% during the first quarter, Holdings Channel.com reports. The firm owned 22,892 shares of the oil and gas producer’s stock after purchasing an additional 1,127 shares during the quarter. Jacobi Capital Management LLC’s holdings in Enterprise Products Partners were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. 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 Enterprise Products Partners by 29.3% during the first quarter. Activest Wealth Management now owns 1,802 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 408 shares during the period. Archer Investment Corp raised its stake in Enterprise Products Partners by 2.1% during the fourth quarter. Archer Investment Corp now owns 20,993 shares of the oil and gas producer’s stock worth $461,000 after acquiring an additional 433 shares during the period. 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. Hedge funds and other institutional investors own 27.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EPD shares. US Capital Advisors reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, June 1st. 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. 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. 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. Finally, Raymond James raised their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the company a “strong-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. Enterprise Products Partners L.P. has a 52 week low of $20.42 and a 52 week high of $28.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.67 and a current ratio of 0.84. The firm has a market capitalization of $56.04 billion, a price-to-earnings ratio of 11.58 and a beta of 1.16. The company has a 50 day moving average price of $25.65 and a 200 day moving average price of $25.43.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $16.06 billion during the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 19.08%. The company’s revenue for the quarter was up 69.9% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.5 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 7.39%. The ex-dividend date is Thursday, July 28th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.47. Enterprise Products Partners’s payout ratio is presently 85.59%.

Insider Activity at Enterprise Products Partners

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. In other news, Director John R. Rutherford bought 6,500 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was purchased at an average price of $25.78 per share, with a total value of $167,570.00. Following the transaction, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carin Marcy Barth bought 19,050 shares of the business’s stock in a transaction on Friday, June 24th. The shares were purchased at an average cost of $23.64 per share, with a total value of $450,342.00. Following the transaction, the director now owns 19,050 shares in the company, valued at $450,342. The disclosure for this purchase can be found here. 37.50% of the stock is owned by company insiders.

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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