11,054 Shares in Enterprise Products Partners L.P. $EPD Purchased by SYM FINANCIAL Corp

SYM FINANCIAL Corp acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,054 shares of the oil and gas producer’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EPD. ING Groep NV purchased a new stake in Enterprise Products Partners during the 1st quarter worth about $71,052,000. Alps Advisors Inc. increased its position in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer’s stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares in the last quarter. JPMorgan Chase & Co. increased its position in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer’s stock worth $148,415,000 after purchasing an additional 1,717,768 shares in the last quarter. Northside Capital Management LLC purchased a new stake in Enterprise Products Partners during the 2nd quarter worth about $47,628,000. Finally, Truist Financial Corp increased its position in Enterprise Products Partners by 293.6% during the 1st quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer’s stock worth $68,927,000 after purchasing an additional 1,506,055 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Insider Buying and Selling at Enterprise Products Partners

In related news, Director William C. Montgomery purchased 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $31.55 per share, with a total value of $504,800.00. Following the completion of the transaction, the director owned 136,920 shares of the company’s stock, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $31.21 on Tuesday. The stock’s 50 day moving average price is $31.45 and its 200 day moving average price is $31.30. The firm has a market capitalization of $67.57 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $11.36 billion for 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 business’s revenue was down 15.7% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, October 31st. Enterprise Products Partners’s dividend payout ratio is 81.04%.

Wall Street Analyst Weigh In

A number of analysts recently commented on EPD shares. Barclays dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, July 2nd. TD Cowen initiated coverage on Enterprise Products Partners in a research note on Monday, July 7th. They issued a “hold” rating and a $33.00 price target on the stock. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus decreased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.82.

Enterprise Products Partners 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.