Allianz Asset Management GmbH trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 20.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,438,733 shares of the oil and gas producer’s stock after selling 373,035 shares during the quarter. Allianz Asset Management GmbH owned 0.07% of Enterprise Products Partners worth $41,536,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in EPD. Mcmillion Capital Management Inc. bought a new stake in Enterprise Products Partners during the second quarter worth about $29,000. TRUE Private Wealth Advisors purchased a new position in shares of Enterprise Products Partners in the second quarter worth about $41,000. Knuff & Co LLC purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $42,000. TCG Advisors LP purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $44,000. Finally, Bremer Bank National Association purchased a new position in shares of Enterprise Products Partners in the first quarter worth about $57,000. 36.52% of the stock is owned by institutional investors and hedge funds.
In related news, Director Murray E. Brasseux bought 5,000 shares of Enterprise Products Partners stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $30.00 per share, with a total value of $150,000.00. Following the completion of the transaction, the director now owns 17,885 shares in the company, valued at approximately $536,550. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 37.50% of the company’s stock.
Shares of EPD traded down $0.11 during midday trading on Friday, hitting $28.44. 30,004 shares of the company traded hands, compared to its average volume of 3,028,944. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.75 and a current ratio of 1.00. Enterprise Products Partners L.P. has a 52 week low of $23.33 and a 52 week high of $30.86. The firm has a 50 day moving average of $29.05 and a 200-day moving average of $28.88. The stock has a market cap of $62.19 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.26 and a beta of 0.87.
Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Enterprise Products Partners had a net margin of 14.26% and a return on equity of 20.02%. The firm had revenue of $8.28 billion during the quarter, compared to the consensus estimate of $8.57 billion. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Wednesday, July 31st were given a $0.44 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.76 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date was Tuesday, July 30th. Enterprise Products Partners’s dividend payout ratio is 90.72%.
A number of brokerages recently issued reports on EPD. Scotiabank began coverage on Enterprise Products Partners in a report on Tuesday. They set an “outperform” rating and a $35.00 price target on the stock. Johnson Rice started coverage on Enterprise Products Partners in a research report on Thursday, May 30th. They issued a “buy” rating and a $35.00 price target on the stock. Zacks Investment Research cut Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Monday, August 26th. Royal Bank of Canada began coverage on shares of Enterprise Products Partners in a research note on Tuesday. They set an “outperform” rating and a $35.00 target price for the company. Finally, ValuEngine lowered shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $33.71.
About Enterprise Products Partners
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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