Allianz Asset Management GmbH Has $63.54 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Allianz Asset Management GmbH cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 18.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,861,155 shares of the oil and gas producer's stock after selling 407,700 shares during the period. Allianz Asset Management GmbH owned about 0.09% of Enterprise Products Partners worth $63,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Colonial Trust Co SC grew 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 in the last quarter. Strategic Advisors LLC grew its position 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 valued at $341,000 after purchasing an additional 337 shares in the last quarter. Full Sail Capital LLC grew its position in 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 in the last quarter. Aire Advisors LLC grew its position in Enterprise Products Partners by 4.0% in the fourth quarter. Aire Advisors LLC now owns 8,976 shares of the oil and gas producer's stock worth $282,000 after acquiring an additional 345 shares in the last quarter. Finally, Keystone Wealth Services LLC grew its position in 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 worth $476,000 after acquiring an additional 349 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Barclays decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a research report on Wednesday, July 2nd. Scotiabank boosted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Citigroup decreased their target price 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. TD Cowen began coverage on shares of Enterprise Products Partners in a research report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price for the company. Finally, Mizuho set a $38.00 target price on shares of Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.

Enterprise Products Partners Stock Performance

NYSE:EPD traded down $0.17 during trading hours on Friday, hitting $31.63. 1,288,855 shares of the company traded hands, compared to its average volume of 4,701,792. The stock has a market capitalization of $68.59 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.82 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The firm has a 50-day moving average of $31.47 and a 200 day moving average of $32.09. 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 released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). The company had revenue of $15.42 billion for 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%. Enterprise Products Partners's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be paid a dividend of $0.545 per share. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

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.