Auto Owners Insurance Co Has $15.36 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Auto Owners Insurance Co lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 55.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 450,000 shares of the oil and gas producer's stock after selling 550,000 shares during the period. Auto Owners Insurance Co's holdings in Enterprise Products Partners were worth $15,363,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Security National Bank bought a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $30,000. Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $31,000. National Bank of Canada FI boosted its holdings in shares of Enterprise Products Partners by 55.4% during the fourth quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 360 shares during the period. Colonial Trust Co SC boosted its holdings in shares of 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 worth $32,000 after acquiring an additional 314 shares during the period. Finally, North Capital Inc. bought a new stake in shares of Enterprise Products Partners during the first quarter worth approximately $38,000. Institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Enterprise Products Partners in a report on Monday, July 7th. They set a "hold" rating and a $33.00 price objective for the company. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Barclays cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, July 2nd. Finally, Citigroup lowered their price objective on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Enterprise Products Partners currently has an average rating of "Moderate Buy" and an average price target of $36.36.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.23 during trading on Friday, hitting $31.56. 4,807,000 shares of the company were exchanged, compared to its average volume of 3,332,589. The business's 50 day moving average is $31.45 and its 200-day moving average is $32.09. The company has a market capitalization of $68.46 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. Enterprise Products Partners L.P. has a 1-year low of $27.37 and a 1-year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The company had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. Equities 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 company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a yield of 6.91%. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's dividend payout ratio is 81.65%.

Enterprise Products Partners 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.