American Century Companies Inc. Sells 1,043,558 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Key Points

• American Century Companies Inc. has reduced its holdings in Enterprise Products Partners L.P. by 5.4%, selling over 1 million shares and now owns 18,399,719 shares valued at approximately $628.17 million as of the recent SEC filing.
• Insiders at Enterprise Products Partners have been active, with Director William C. Montgomery purchasing 16,000 shares and Director John R. Rutherford acquiring 15,000 shares, both seeing significant increases in their ownership stakes.
• Enterprise Products Partners recently reported a quarterly dividend increase, with a dividend of $0.545 per share, marking a yield of 6.8% and a positive change from its previous dividend payout.

American Century Companies Inc. lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,399,719 shares of the oil and gas producer's stock after selling 1,043,558 shares during the quarter. American Century Companies Inc. owned 0.85% of Enterprise Products Partners worth $628,166,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Security National Bank bought a new position in Enterprise Products Partners during the first quarter valued at $30,000. Alpine Bank Wealth Management bought a new position in Enterprise Products Partners during the first quarter valued at $31,000. Colonial Trust Co SC lifted its position in Enterprise Products Partners by 44.9% during the fourth quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 314 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners in the first quarter valued at $34,000. Finally, Parvin Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $35,000. Institutional investors own 26.07% of the company's stock.

Insider Activity at Enterprise Products Partners

In other news, Director William C. Montgomery bought 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, for a total transaction of $504,800.00. Following the purchase, the director directly owned 136,920 shares in the company, valued at approximately $4,319,826. This trade represents a 13.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, with a total value of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 32.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Barclays reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Stifel Nicolaus reduced their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 29th. Citigroup reduced their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Stock Up 0.4%

EPD stock opened at $31.88 on Friday. The firm has a 50 day moving average of $31.41 and a 200 day moving average of $31.90. The stock has a market capitalization of $69.03 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66. Enterprise Products Partners L.P. has a 52 week low of $27.77 and a 52 week high of $34.63. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%. The company had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same period in the prior year, the business posted $0.64 EPS. The company's quarterly revenue was down 15.7% on a year-over-year basis. Sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 6.8%. The ex-dividend date was Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.04%.

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.

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