US Bancorp DE reduced its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 317,291 shares of the oil and gas producer’s stock after selling 15,723 shares during the quarter. US Bancorp DE’s holdings in Enterprise Products Partners were worth $9,117,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Alps Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 13.2% in the second quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock worth $1,084,226,000 after acquiring an additional 4,777,192 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Enterprise Products Partners by 321.0% in the second quarter. BlackRock Inc. now owns 13,588,906 shares of the oil and gas producer’s stock worth $376,005,000 after acquiring an additional 10,360,904 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Enterprise Products Partners in the second quarter worth about $333,913,000. FMR LLC increased its holdings in shares of Enterprise Products Partners by 0.6% in the second quarter. FMR LLC now owns 11,523,060 shares of the oil and gas producer’s stock worth $318,843,000 after acquiring an additional 74,391 shares in the last quarter. Finally, ING Groep NV increased its holdings in shares of Enterprise Products Partners by 31.4% in the second quarter. ING Groep NV now owns 7,741,600 shares of the oil and gas producer’s stock worth $214,210,000 after acquiring an additional 1,851,500 shares in the last quarter. Institutional investors own 36.37% of the company’s stock.
NYSE:EPD opened at $27.27 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The stock has a market cap of $58.63 billion, a P/E ratio of 15.68, a PEG ratio of 4.83 and a beta of 0.87. Enterprise Products Partners L.P. has a 52-week low of $23.10 and a 52-week high of $30.05.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.15. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.72 billion. Enterprise Products Partners had a return on equity of 16.38% and a net margin of 10.23%. The business’s revenue was up 39.2% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. On average, research analysts predict that Enterprise Products Partners L.P. will post 1.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were paid a $0.4325 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 6.34%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.43. The ex-dividend date was Tuesday, October 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 131.06%.
Several equities research analysts have issued reports on EPD shares. Wells Fargo & Co increased their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. SunTrust Banks set a $33.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a report on Monday, July 23rd. Zacks Investment Research upgraded Enterprise Products Partners from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, September 6th. Bank of America increased their price objective on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 15th. Finally, Raymond James increased their price objective on Enterprise Products Partners from $34.00 to $35.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $32.83.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $26.94, for a total value of $673,500.00. Following the completion of the transaction, the director now directly owns 226,832 shares in the company, valued at $6,110,854.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 37.50% of the stock is owned by company insiders.
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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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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