Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 4.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,268,855 shares of the oil and gas producer’s stock after acquiring an additional 88,100 shares during the quarter. Allianz Asset Management GmbH’s holdings in Enterprise Products Partners were worth $71,151,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton boosted its stake in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 656 shares during the last quarter. Assetmark Inc. lifted its holdings in Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new position in Enterprise Products Partners in the 3rd quarter valued at $36,000. Bangor Savings Bank boosted its stake in Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after purchasing an additional 1,072 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $40,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Price Performance

EPD stock opened at $33.41 on Friday. Enterprise Products Partners L.P. has a 52-week low of $27.26 and a 52-week high of $34.63. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The stock has a market cap of $72.41 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.38 and a beta of 1.09. The business has a fifty day moving average of $32.63 and a two-hundred day moving average of $30.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the company earned $0.72 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, January 31st. Enterprise Products Partners’s payout ratio is 79.55%.

Analysts Set New Price Targets

EPD has been the topic of several research reports. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Scotiabank began coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. US Capital Advisors upgraded Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Citigroup boosted their price objective on Enterprise Products Partners from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.70.

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