PNC Financial Services Group Inc. Sells 31,513 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

PNC Financial Services Group Inc. reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,223,757 shares of the oil and gas producer's stock after selling 31,513 shares during the period. PNC Financial Services Group Inc. owned approximately 0.06% of Enterprise Products Partners worth $41,779,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EPD. Security National Bank bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $30,000. Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $31,000. National Bank of Canada FI lifted its holdings in shares of Enterprise Products Partners by 55.4% during the 4th 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 last quarter. Colonial Trust Co SC lifted its holdings in shares of 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 acquiring an additional 314 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $34,000. 26.07% of the stock is owned by institutional investors.

Insider Transactions at Enterprise Products Partners

In related news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Tuesday, July 29th. The shares were bought at an average price of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the transaction, the director directly owned 158,586 shares of the company's stock, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William C. Montgomery purchased 16,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company's stock, valued at $4,319,826. This represents a 13.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EPD shares. Scotiabank lifted their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. TD Cowen started coverage on shares of Enterprise Products Partners in a research note on Monday, July 7th. They issued a "hold" rating and a $33.00 price target for the company. Barclays lowered their price target on shares of 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. Citigroup lowered their price target on shares of Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Finally, Stifel Nicolaus lowered their price target on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Five equities 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. According to MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Enterprise Products Partners Price Performance

EPD stock opened at $30.75 on Monday. The firm's 50-day moving average price is $31.38 and its two-hundred day moving average price is $32.02. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The stock has a market capitalization of $66.69 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.77 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 released its quarterly earnings data on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.88%. The firm had revenue of $11.36 billion during the quarter, compared to analysts' expectations of $15.24 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. Enterprise Products Partners's revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be given a $0.545 dividend. The ex-dividend date is Thursday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. Enterprise Products Partners's dividend payout ratio is presently 81.04%.

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.

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.