Renasant Bank Takes Position in Enterprise Products Partners L.P. $EPD

Renasant Bank purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) in the third quarter, Holdings Channel.com reports. The firm purchased 28,536 shares of the oil and gas producer’s stock, valued at approximately $892,000.

A number of other large investors have also recently modified their holdings of the business. Winnow Wealth LLC purchased a new stake in Enterprise Products Partners in the second quarter valued at approximately $28,000. Traub Capital Management LLC bought a new position in shares of Enterprise Products Partners during the second quarter valued at about $31,000. Financial Consulate Inc. purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $33,000. Davis Capital Management bought a new stake in shares of Enterprise Products Partners in the third quarter worth about $45,000. Finally, Hantz Financial Services Inc. lifted its stake in Enterprise Products Partners by 80.7% in the third quarter. Hantz Financial Services Inc. now owns 1,545 shares of the oil and gas producer’s stock worth $48,000 after acquiring an additional 690 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 0.4%

Shares of NYSE EPD opened at $34.93 on Friday. The company has a market cap of $75.56 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 2.47 and a beta of 0.60. Enterprise Products Partners L.P. has a fifty-two week low of $27.77 and a fifty-two week high of $35.55. The business’s 50 day moving average price is $32.61 and its 200-day moving average price is $31.87. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88.

Enterprise Products Partners (NYSE:EPDGet Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion during the quarter, compared to analysts’ expectations of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.43%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners declared that its Board of Directors has initiated a share buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 6.3%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, January 30th. Enterprise Products Partners’s payout ratio is presently 82.71%.

Insider Activity at Enterprise Products Partners

In other news, Director John R. Rutherford purchased 15,000 shares of the stock in a transaction dated Monday, December 29th. The shares were acquired at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the acquisition, the director owned 173,586 shares of the company’s stock, valued at approximately $5,570,374.74. This represents a 9.46% 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 this hyperlink. Insiders own 32.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup restated a “buy” rating and set a $39.00 price target (up from $36.00) on shares of Enterprise Products Partners in a research report on Wednesday. Morgan Stanley downgraded shares of Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price for the company. in a research report on Thursday, December 18th. TD Cowen raised their price objective on shares of Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays reaffirmed an “overweight” rating and set a $38.00 price objective (up from $35.00) on shares of Enterprise Products Partners in a research report on Wednesday. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.00.

View Our Latest Research Report on EPD

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About Enterprise Products Partners

(Free Report)

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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