Enterprise Products Partners L.P. $EPD Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group trimmed its stake in Enterprise Products Partners by 2.5% in the fourth quarter, selling 31,140 shares and leaving it with about 1.22 million shares valued at roughly $39.1 million.
• Enterprise Products Partners reported Q1 earnings of $0.68 per share, missing analyst estimates, though revenue of $14.39 billion came in above expectations. The company also said revenue declined 6.7% from a year earlier.
• The partnership declared a quarterly dividend of $0.55 per share, equal to an annualized yield of about 5.6%. CEO Aj Teague also bought shares recently, while analysts currently have an average rating of Hold on the stock.

PNC Financial Services Group Inc. lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,220,948 shares of the oil and gas producer's stock after selling 31,140 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Enterprise Products Partners worth $39,144,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Miller Howard Investments Inc. NY grew its holdings in Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer's stock valued at $99,775,000 after purchasing an additional 31,733 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Enterprise Products Partners by 20.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer's stock valued at $7,189,000 after purchasing an additional 38,660 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Enterprise Products Partners by 70.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,495,518 shares of the oil and gas producer's stock valued at $46,765,000 after purchasing an additional 619,014 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Enterprise Products Partners by 8.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,182,229 shares of the oil and gas producer's stock valued at $130,778,000 after purchasing an additional 331,066 shares in the last quarter. Finally, Oxbow Advisors LLC grew its holdings in Enterprise Products Partners by 3.0% during the 4th quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer's stock valued at $42,610,000 after purchasing an additional 39,052 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Trading Up 0.2%

NYSE EPD opened at $39.48 on Friday. Enterprise Products Partners L.P. has a 12 month low of $30.01 and a 12 month high of $40.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The company has a market capitalization of $85.34 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. The company's fifty day moving average price is $38.01 and its two-hundred day moving average price is $34.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. During the same quarter last year, the company earned $0.64 earnings per share. The company's revenue was down 6.7% compared to the same quarter last year. As a group, research analysts predict that Enterprise Products Partners L.P. will post 2.95 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners's dividend payout ratio (DPR) is presently 81.48%.

Insider Activity

In other Enterprise Products Partners news, CEO Aj Teague purchased 2,665 shares of Enterprise Products Partners stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $100,070.75. Following the transaction, the chief executive officer owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 32.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. The Goldman Sachs Group reiterated a "neutral" rating and set a $39.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, May 14th. UBS Group reiterated a "buy" rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Jefferies Financial Group increased their price objective on shares of Enterprise Products Partners from $34.00 to $40.00 and gave the company a "hold" rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Enterprise Products Partners in a research note on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $39.67.

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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