Enterprise Products Partners L.P. (NYSE:EPD) Position Cut by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Enterprise Products Partners L.P. by 3.0%, selling 104,720 shares and owning a total of 3,374,855 shares valued at approximately $115 million as of the latest SEC filing.
• Enterprise Products Partners has seen significant increases in institutional investor holdings, with notable raises in stakes by firms such as Brighton Jones LLC (+19.9%) and Jaffetilchin Investment Partners LLC (+91.2%) during the last quarter.
• The company announced a quarterly dividend increase to $0.545 per share, reflecting a 6.9% dividend yield, set to be paid on August 14th, with a payout ratio of 81.04%.

Deutsche Bank AG lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,374,855 shares of the oil and gas producer's stock after selling 104,720 shares during the quarter. Deutsche Bank AG owned 0.16% of Enterprise Products Partners worth $115,218,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Colonial Trust Co SC grew its stake in Enterprise Products Partners by 44.9% during the 4th quarter. Colonial Trust Co SC now owns 1,014 shares of the oil and gas producer's stock worth $32,000 after buying an additional 314 shares during the last quarter. Strategic Advisors LLC raised its holdings in Enterprise Products Partners by 3.5% during the first quarter. Strategic Advisors LLC now owns 9,985 shares of the oil and gas producer's stock worth $341,000 after purchasing an additional 337 shares during the last quarter. Full Sail Capital LLC raised its holdings in shares of Enterprise Products Partners by 3.9% in the fourth quarter. Full Sail Capital LLC now owns 9,081 shares of the oil and gas producer's stock worth $285,000 after acquiring an additional 341 shares during the last quarter. Keystone Wealth Services LLC grew its position in shares of Enterprise Products Partners by 2.6% in the first quarter. Keystone Wealth Services LLC now owns 13,937 shares of the oil and gas producer's stock valued at $476,000 after purchasing an additional 349 shares during the period. Finally, Duncan Williams Asset Management LLC grew its position in shares of Enterprise Products Partners by 4.5% in the first quarter. Duncan Williams Asset Management LLC now owns 8,207 shares of the oil and gas producer's stock valued at $280,000 after purchasing an additional 357 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Insider Buying and Selling

In related news, Director John R. Rutherford purchased 15,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the transaction, the director owned 158,586 shares of the company's stock, valued at $4,971,671.10. This trade represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were bought at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. 32.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup reduced their price objective on 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. Scotiabank boosted their price objective on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus cut their price target on 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. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.25.

Enterprise Products Partners Stock Down 0.9%

NYSE EPD traded down $0.28 on Monday, hitting $31.16. 5,092,230 shares of the stock traded hands, compared to its average volume of 4,702,185. The stock has a 50-day moving average of $31.38 and a 200 day moving average of $31.93. Enterprise Products Partners L.P. has a twelve month low of $27.77 and a twelve month high of $34.63. The company has a market capitalization of $67.59 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion for the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a return on equity of 19.88% and a net margin of 10.71%. The firm's revenue for the quarter was down 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. Enterprise Products Partners's payout ratio is currently 81.04%.

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.