Capital City Trust Co. FL Buys 629 Shares of Enterprise Products Partners L.P. $EPD

Capital City Trust Co. FL increased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,555 shares of the oil and gas producer’s stock after buying an additional 629 shares during the quarter. Capital City Trust Co. FL’s holdings in Enterprise Products Partners were worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EPD. Brooklyn Investment Group bought a new stake in shares of Enterprise Products Partners in the 1st quarter valued at about $27,000. Wealth Preservation Advisors LLC acquired a new position in Enterprise Products Partners during the first quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in Enterprise Products Partners during the second quarter worth approximately $29,000. Security National Bank bought a new stake in Enterprise Products Partners in the first quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management acquired a new stake in shares of Enterprise Products Partners in the first quarter valued at approximately $31,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Enterprise Products Partners Trading Up 0.7%

EPD opened at $31.65 on Friday. The firm has a market capitalization of $68.53 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.25 and a beta of 0.64. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $34.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company’s 50 day moving average price is $31.56 and its two-hundred day moving average price is $31.47.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The firm had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Thursday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.54. Enterprise Products Partners’s dividend payout ratio is presently 81.04%.

Insiders Place Their Bets

In other Enterprise Products Partners news, Director William C. Montgomery acquired 16,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the acquisition, the director owned 136,920 shares in the company, valued at approximately $4,319,826. This represents a 13.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were acquired at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the acquisition, the director owned 158,586 shares of the company’s stock, valued at approximately $4,971,671.10. The trade was a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is owned by insiders.

Analysts Set New Price Targets

EPD has been the topic of several research reports. Barclays decreased their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 2nd. 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 report on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Saturday, September 27th. Stifel Nicolaus reduced their price objective on Enterprise Products Partners from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Finally, Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Enterprise Products Partners Company 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.