American Century Companies Inc. Trims Stock Holdings in Enterprise Products Partners L.P. $EPD

American Century Companies Inc. decreased its position in Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,068,804 shares of the oil and gas producer’s stock after selling 1,583,428 shares during the quarter. American Century Companies Inc.’s holdings in Enterprise Products Partners were worth $533,742,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Winnow Wealth LLC bought a new position in shares of Enterprise Products Partners in the 2nd quarter worth about $28,000. Traub Capital Management LLC purchased a new stake in Enterprise Products Partners in the second quarter worth about $31,000. Abich Financial Wealth Management LLC bought a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $32,000. Financial Consulate Inc. bought a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $33,000. Finally, Davis Capital Management purchased a new position in shares of Enterprise Products Partners during the third quarter valued at approximately $45,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners News Summary

Here are the key news stories impacting Enterprise Products Partners this week:

Insider Buying and Selling

In other news, Director John R. Rutherford bought 15,000 shares of the stock in a transaction on Monday, December 29th. The shares were bought at an average price of $32.09 per share, with a total value of $481,350.00. Following the completion of the acquisition, the director owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 32.60% of the company’s stock.

Enterprise Products Partners Stock Up 0.5%

EPD opened at $36.16 on Friday. The stock has a market capitalization of $78.22 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.56 and a beta of 0.60. The firm has a 50 day moving average price of $33.77 and a 200-day moving average price of $32.37. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $37.31. The company has a quick ratio of 0.60, a current ratio of 0.88 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The business had revenue of $13.79 billion during the quarter, compared to the consensus estimate 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 revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.1%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, January 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 82.71%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EPD shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Monday, December 1st. Citigroup reiterated a “buy” rating and set a $39.00 price objective (up from $36.00) on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Raymond James Financial cut Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 target price on the stock. in a research note on Monday, January 5th. Morgan Stanley downgraded Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target for the company. in a report on Thursday, December 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Enterprise Products Partners in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Get Our Latest Stock Analysis on EPD

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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