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Allianz Asset Management GmbH Sells 373,035 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

By August 30, 2019 No Comments

Allianz Asset Management GmbH decreased its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,438,733 shares of the oil and gas producer’s stock after selling 373,035 shares during the period. Allianz Asset Management GmbH owned about 0.07% of Enterprise Products Partners worth $41,536,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EPD. Neuberger Berman Group LLC increased its holdings in Enterprise Products Partners by 4.6% during the first quarter. Neuberger Berman Group LLC now owns 19,942,261 shares of the oil and gas producer’s stock valued at $580,320,000 after buying an additional 884,418 shares during the last quarter. BlackRock Inc. increased its holdings in Enterprise Products Partners by 10.9% during the first quarter. BlackRock Inc. now owns 16,970,293 shares of the oil and gas producer’s stock valued at $493,835,000 after buying an additional 1,665,379 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Enterprise Products Partners by 27.6% during the first quarter. Wells Fargo & Company MN now owns 6,200,604 shares of the oil and gas producer’s stock valued at $180,437,000 after buying an additional 1,341,023 shares during the last quarter. Raymond James & Associates increased its holdings in Enterprise Products Partners by 2.0% during the first quarter. Raymond James & Associates now owns 4,163,211 shares of the oil and gas producer’s stock valued at $121,149,000 after buying an additional 81,504 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Enterprise Products Partners by 6.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 2,911,325 shares of the oil and gas producer’s stock valued at $84,050,000 after buying an additional 189,050 shares during the last quarter. Institutional investors own 36.52% of the company’s stock.

Shares of NYSE EPD opened at $28.45 on Friday. The firm has a fifty day moving average price of $29.33 and a 200-day moving average price of $28.86. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.00 and a quick ratio of 0.75. The stock has a market cap of $61.25 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88. Enterprise Products Partners L.P. has a 1 year low of $23.33 and a 1 year high of $30.86.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. On average, research analysts expect that Enterprise Products Partners L.P. will post 2.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Wednesday, July 31st were paid a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 dividend on an annualized basis and a dividend yield of 6.19%. Enterprise Products Partners’s dividend payout ratio is 90.72%.

A number of analysts have commented on the stock. Zacks Investment Research cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a report on Monday. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Johnson Rice assumed coverage on shares of Enterprise Products Partners in a report on Thursday, May 30th. They set a “buy” rating and a $35.00 target price for the company. Piper Jaffray Companies assumed coverage on shares of Enterprise Products Partners in a report on Wednesday, July 17th. They set an “overweight” rating and a $37.00 target price for the company. Finally, ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Enterprise Products Partners currently has a consensus rating of “Buy” and a consensus target price of $33.50.

In other news, Director Murray E. Brasseux acquired 5,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $30.00 per share, with a total value of $150,000.00. Following the completion of the purchase, the director now directly owns 17,885 shares in the company, valued at approximately $536,550. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 37.50% of the company’s stock.

Enterprise Products Partners Company 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.

Further Reading: The Discount Rate – What You Need to Know

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

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