Enterprise Products Partners L.P. $EPD Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management increased its Enterprise Products Partners stake by 10.2% in the second quarter, acquiring 102,094 additional shares for a total position valued at approximately $40.6 million. Institutional investors collectively own 26.07% of EPD.
• Enterprise Products Partners reported quarterly earnings of $0.84 per share, exceeding the $0.75 consensus estimate, while revenue rose 60.8% year over year to $18.27 billion.
• The company raised its quarterly dividend to $0.56 per share, equivalent to an annualized $2.24 payout and a 5.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $40.

Allianz Asset Management GmbH grew its position in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,105,419 shares of the oil and gas producer's stock after buying an additional 102,094 shares during the quarter. Allianz Asset Management GmbH owned 0.05% of Enterprise Products Partners worth $40,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer's stock valued at $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in Enterprise Products Partners by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer's stock worth $1,827,000 after buying an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Enterprise Products Partners by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer's stock worth $1,975,000 after buying an additional 3,742 shares in the last quarter. Guggenheim Capital LLC boosted its position in Enterprise Products Partners by 6.1% in the 2nd quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer's stock valued at $847,000 after buying an additional 1,578 shares during the period. Finally, Glenview Trust co boosted its position in Enterprise Products Partners by 315.8% in the 2nd quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer's stock valued at $1,043,000 after buying an additional 25,555 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Up 0.1%

EPD opened at $38.97 on Tuesday. The business's 50-day simple moving average is $38.19 and its 200-day simple moving average is $37.80. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The stock has a market capitalization of $84.15 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The business had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business's quarterly revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 3.03 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 31st. Enterprise Products Partners's payout ratio is currently 77.78%.

Wall Street Analyst Weigh In

EPD has been the topic of several recent research reports. Scotiabank restated a "sector perform" rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a report on Tuesday, May 12th. Weiss Ratings upgraded Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. TD Cowen reissued a "hold" rating and set a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. UBS Group restated a "buy" rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $40.00.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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