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Sabal Trust CO Buys 4,000 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Defense World · Sep 26, 2022 07:02

Sabal Trust CO boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Get Rating) by 35.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,201 shares of the oil and gas producer's stock after purchasing an additional 4,000 shares during the quarter. Sabal Trust CO's holdings in Enterprise Products Partners were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Enterprise Products Partners by 4.7% during the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer's stock valued at $646,548,000 after purchasing an additional 1,114,690 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Enterprise Products Partners by 2.8% in the first quarter. Neuberger Berman Group LLC now owns 18,451,802 shares of the oil and gas producer's stock worth $476,241,000 after acquiring an additional 501,154 shares in the last quarter. American Century Companies Inc. boosted its holdings in Enterprise Products Partners by 57.5% in the first quarter. American Century Companies Inc. now owns 15,180,587 shares of the oil and gas producer's stock worth $391,811,000 after acquiring an additional 5,543,237 shares in the last quarter. Energy Income Partners LLC boosted its holdings in Enterprise Products Partners by 0.3% in the fourth quarter. Energy Income Partners LLC now owns 13,931,284 shares of the oil and gas producer's stock worth $305,931,000 after acquiring an additional 38,821 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Enterprise Products Partners by 12.5% in the first quarter. Clearbridge Investments LLC now owns 11,888,708 shares of the oil and gas producer's stock worth $306,848,000 after acquiring an additional 1,323,267 shares in the last quarter. Institutional investors own 27.29% of the company's stock.

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Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford acquired 6,500 shares of the stock in a transaction on Thursday, August 4th. The shares were bought at an average price of $25.78 per share, with a total value of $167,570.00. Following the completion of the purchase, the director now owns 113,941 shares of the company's stock, valued at approximately $2,937,398.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 37.50% of the company's stock.

Enterprise Products Partners Stock Performance

Shares of NYSE:EPD opened at $23.62 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.87 and a quick ratio of 0.65. The business's 50 day moving average price is $26.29 and its 200-day moving average price is $26.00. The firm has a market capitalization of $51.47 billion, a PE ratio of 10.64 and a beta of 1.15. Enterprise Products Partners L.P. has a 1 year low of $20.42 and a 1 year high of $28.65.

Enterprise Products Partners (NYSE:EPD – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The firm had revenue of $16.06 billion for the quarter, compared to analyst estimates of $11.96 billion. Enterprise Products Partners had a return on equity of 18.97% and a net margin of 9.54%. The business's revenue was up 69.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.52 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a dividend yield of 8.04%. Enterprise Products Partners's payout ratio is currently 85.59%.

Analyst Ratings Changes

Several research analysts have recently issued reports on EPD shares. UBS Group raised their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, July 8th. Raymond James raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 4th. TD Securities lifted their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Finally, US Capital Advisors reiterated a "buy" rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

About Enterprise Products Partners

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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.