Glenview Trust Co Grows Position in Enterprise Products Partners L.P. (EPD)

Glenview Trust Co lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 21.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,391 shares of the oil and gas producer’s stock after acquiring an additional 2,017 shares during the period. Glenview Trust Co’s holdings in Enterprise Products Partners were worth $302,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. ING Groep NV lifted its position in Enterprise Products Partners by 72.1% during the third quarter. ING Groep NV now owns 7,269,400 shares of the oil and gas producer’s stock worth $189,513,000 after purchasing an additional 3,044,560 shares during the period. Commonwealth Bank of Australia lifted its position in Enterprise Products Partners by 42.1% during the third quarter. Commonwealth Bank of Australia now owns 8,721,237 shares of the oil and gas producer’s stock worth $226,465,000 after purchasing an additional 2,584,339 shares during the period. Tortoise Capital Advisors L.L.C. lifted its position in Enterprise Products Partners by 5.0% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 43,760,469 shares of the oil and gas producer’s stock worth $1,140,835,000 after purchasing an additional 2,092,528 shares during the period. Harvest Fund Advisors LLC lifted its position in Enterprise Products Partners by 5.1% during the third quarter. Harvest Fund Advisors LLC now owns 42,612,584 shares of the oil and gas producer’s stock worth $1,110,910,000 after purchasing an additional 2,076,377 shares during the period. Finally, American Century Companies Inc. lifted its position in Enterprise Products Partners by 23.0% during the third quarter. American Century Companies Inc. now owns 9,368,245 shares of the oil and gas producer’s stock worth $244,230,000 after purchasing an additional 1,752,890 shares during the period. Institutional investors and hedge funds own 37.01% of the company’s stock.

Several research firms recently weighed in on EPD. Jefferies Group reaffirmed a “buy” rating and set a $31.00 price objective on shares of Enterprise Products Partners in a research report on Friday, January 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Tuesday, January 16th. Credit Suisse Group began coverage on shares of Enterprise Products Partners in a research report on Thursday, January 4th. They set an “outperform” rating and a $31.00 price objective for the company. Bank of America began coverage on shares of Enterprise Products Partners in a research report on Tuesday, January 9th. They set a “buy” rating for the company. Finally, Stifel Nicolaus upped their price objective on shares of Enterprise Products Partners from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.14.

In related news, CEO Aj Teague bought 11,300 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was purchased at an average price of $26.47 per share, with a total value of $299,111.00. Following the completion of the acquisition, the chief executive officer now owns 1,474,183 shares of the company’s stock, valued at $39,021,624.01. The purchase was disclosed in a document filed with the SEC, which is available through this link. 37.50% of the stock is currently owned by corporate insiders.

Enterprise Products Partners L.P. (NYSE:EPD) opened at $25.98 on Friday. The company has a market cap of $55,790.00, a PE ratio of 23.41, a PEG ratio of 4.22 and a beta of 0.81. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 0.96. Enterprise Products Partners L.P. has a fifty-two week low of $23.59 and a fifty-two week high of $29.51.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Wednesday, January 31st. The oil and gas producer reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $7.02 billion. Enterprise Products Partners had a net margin of 9.57% and a return on equity of 12.53%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. equities research analysts forecast that Enterprise Products Partners L.P. will post 1.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 31st were issued a $0.425 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.54%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.42. Enterprise Products Partners’s dividend payout ratio is 153.15%.

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Enterprise Products Partners Profile

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include 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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