Argent Trust Co Has $4.28 Million Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Argent Trust Co increased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 136,558 shares of the oil and gas producer’s stock after acquiring an additional 1,900 shares during the period. Argent Trust Co’s holdings in Enterprise Products Partners were worth $4,282,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EPD. Verity & Verity LLC lifted its position in Enterprise Products Partners by 30.8% in the fourth quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock worth $3,470,000 after purchasing an additional 26,032 shares during the period. Spinnaker Trust bought a new position in Enterprise Products Partners during the fourth quarter worth about $280,000. FourThought Financial Partners LLC boosted its holdings in Enterprise Products Partners by 18.5% during the fourth quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock worth $4,407,000 after buying an additional 21,970 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Enterprise Products Partners by 61.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 135,836 shares of the oil and gas producer’s stock valued at $3,954,000 after purchasing an additional 51,809 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Enterprise Products Partners by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 310,132 shares of the oil and gas producer’s stock valued at $9,726,000 after buying an additional 21,192 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EPD shares. Morgan Stanley boosted their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 11th. Truist Financial upped their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Barclays raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.89.

Enterprise Products Partners Stock Performance

Shares of EPD traded down $0.48 during trading hours on Thursday, reaching $29.21. 688,710 shares of the company traded hands, compared to its average volume of 4,355,655. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $63.25 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.37 and a beta of 0.78. The business has a fifty day moving average price of $33.01 and a 200-day moving average price of $31.85.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 annualized dividend and a yield of 7.33%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

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.