Enterprise Products Partners L.P. $EPD Shares Acquired by JRM Investment Counsel LLC

JRM Investment Counsel LLC lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 477,983 shares of the oil and gas producer’s stock after purchasing an additional 10,804 shares during the quarter. Enterprise Products Partners comprises 5.6% of JRM Investment Counsel LLC’s holdings, making the stock its 5th largest position. JRM Investment Counsel LLC’s holdings in Enterprise Products Partners were worth $16,318,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $27,000. Security National Bank purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $30,000. Alpine Bank Wealth Management purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $34,000. Finally, Colonial Trust Co SC raised its stake in shares of Enterprise Products Partners by 44.9% in the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 314 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 0.9%

Shares of NYSE:EPD opened at $31.8840 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $34.63. The firm has a market capitalization of $69.04 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66. 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 business’s 50 day moving average price is $31.37 and its 200-day moving average price is $31.82.

Enterprise Products Partners (NYSE:EPD) last announced its 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). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The business had revenue of $11.36 billion for the quarter, compared to analysts’ expectations of $15.24 billion. During the same quarter last year, the business earned $0.64 EPS. The company’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st were given a dividend of $0.545 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.8%. Enterprise Products Partners’s payout ratio is 81.04%.

Insider Buying and Selling

In other news, Director John R. Rutherford purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director owned 158,586 shares of the company’s stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William C. Montgomery purchased 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased 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 directly owned 136,920 shares of the company’s stock, valued at $4,319,826. This represents a 13.23% increase in their position. The disclosure for this purchase can be found here. Company insiders own 32.60% of the company’s stock.

Analyst Ratings Changes

EPD has been the subject of several research analyst reports. Scotiabank raised their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Barclays reduced their price target 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. Wall Street Zen upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. Mizuho set a $38.00 price target on Enterprise Products Partners and gave the company an “outperform” rating in a research report on Friday, July 11th. Finally, Citigroup reduced their price target on Enterprise Products Partners from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

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.