US Bancorp DE trimmed its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 4.7% in the third quarter, Holdings Channel reports. The institutional investor owned 317,291 shares of the oil and gas producer’s stock after selling 15,723 shares during the period. US Bancorp DE’s holdings in Enterprise Products Partners were worth $9,117,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. lifted its holdings in Enterprise Products Partners by 13.2% during the 2nd quarter. Alps Advisors Inc. now owns 40,898,736 shares of the oil and gas producer’s stock worth $1,084,226,000 after purchasing an additional 4,777,192 shares during the last quarter. BlackRock Inc. lifted its holdings in Enterprise Products Partners by 321.0% during the 2nd quarter. BlackRock Inc. now owns 13,588,906 shares of the oil and gas producer’s stock worth $376,005,000 after purchasing an additional 10,360,904 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Enterprise Products Partners during the 2nd quarter worth approximately $333,913,000. FMR LLC lifted its holdings in Enterprise Products Partners by 0.6% during the 2nd quarter. FMR LLC now owns 11,523,060 shares of the oil and gas producer’s stock worth $318,843,000 after purchasing an additional 74,391 shares during the last quarter. Finally, ING Groep NV lifted its holdings in Enterprise Products Partners by 31.4% during the 2nd quarter. ING Groep NV now owns 7,741,600 shares of the oil and gas producer’s stock worth $214,210,000 after purchasing an additional 1,851,500 shares during the last quarter. 36.37% of the stock is owned by institutional investors.
In other Enterprise Products Partners news, Director James T. Hackett sold 25,000 shares of the firm’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $26.94, for a total transaction of $673,500.00. Following the transaction, the director now owns 226,832 shares in the company, valued at approximately $6,110,854.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 37.50% of the stock is owned by company insiders.
Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.15. Enterprise Products Partners had a return on equity of 16.38% and a net margin of 10.23%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.72 billion. During the same quarter last year, the company earned $0.28 EPS. The company’s revenue was up 39.2% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 1.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.4325 per share. This represents a $1.73 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date was Tuesday, October 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.43. Enterprise Products Partners’s dividend payout ratio (DPR) is 131.06%.
EPD has been the subject of several research reports. Bank of America set a $35.00 price target on Enterprise Products Partners and gave the stock a “buy” rating in a report on Thursday, November 1st. ValuEngine raised Enterprise Products Partners from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. 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. Wells Fargo & Co lifted 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. Finally, BMO Capital Markets reissued a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.83.
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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.
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