US Bancorp DE Sells 28,795 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

US Bancorp DE trimmed its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 689,792 shares of the oil and gas producer’s stock after selling 28,795 shares during the quarter. US Bancorp DE’s holdings in Enterprise Products Partners were worth $20,128,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Kayne Anderson Capital Advisors LP grew its holdings in Enterprise Products Partners by 2.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after buying an additional 284,772 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in Enterprise Products Partners by 2.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,686,444 shares of the oil and gas producer’s stock worth $123,488,000 after purchasing an additional 109,712 shares during the period. Stifel Financial Corp grew its stake in Enterprise Products Partners by 0.5% in the fourth quarter. Stifel Financial Corp now owns 3,353,572 shares of the oil and gas producer’s stock worth $88,367,000 after purchasing an additional 16,641 shares during the period. Miller Howard Investments Inc. NY grew its stake in shares of Enterprise Products Partners by 2.2% in the first quarter. Miller Howard Investments Inc. NY now owns 3,220,815 shares of the oil and gas producer’s stock worth $93,983,000 after acquiring an additional 69,396 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC lifted its holdings in Enterprise Products Partners by 10.0% in the fourth quarter. Longfellow Investment Management Co. LLC now owns 2,521,428 shares of the oil and gas producer’s stock valued at $66,440,000 after acquiring an additional 229,622 shares during the period. 26.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on EPD shares. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Monday, June 10th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday, April 5th. Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. cut their price objective on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $32.77.

Enterprise Products Partners Stock Up 0.7 %

NYSE EPD traded up $0.20 on Wednesday, reaching $29.81. The stock had a trading volume of 2,366,229 shares, compared to its average volume of 4,366,036. The company has a market capitalization of $64.73 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 1.38 and a beta of 1.04. The business has a 50 day moving average price of $28.68 and a 200 day moving average price of $28.16. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $29.99. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last issued its earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The business had revenue of $14.76 billion during the quarter, compared to analysts’ expectations of $13.82 billion. During the same period in the prior year, the firm posted $0.64 EPS. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Wednesday, July 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.