Principal Financial Group Inc. Has $147.16 Million Position in Enterprise Products Partners L.P. $EPD

Key Points

• Principal Financial Group trimmed its stake in Enterprise Products Partners by 2.3% to 4,590,192 shares (about 0.21% of the company), valued at $147.16 million at the end of the quarter.
• Enterprise reported quarterly EPS of $0.68, missing analysts' estimates by $0.03 while revenue of $14.39 billion exceeded expectations.
• The company declared a quarterly dividend of $0.55 (annualized $2.20) for a yield of 5.8%, with an ex-dividend date of April 30 and payment on May 14.

Principal Financial Group Inc. cut its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,590,192 shares of the oil and gas producer's stock after selling 107,188 shares during the period. Principal Financial Group Inc. owned about 0.21% of Enterprise Products Partners worth $147,162,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EPD. Tred Avon Family Wealth LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $1,015,000. 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 worth $99,775,000 after acquiring an additional 31,733 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Enterprise Products Partners by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,252,088 shares of the oil and gas producer's stock valued at $39,153,000 after purchasing an additional 36,339 shares during the period. Advisors Asset Management Inc. increased its holdings in Enterprise Products Partners by 20.2% in the third quarter. Advisors Asset Management Inc. now owns 229,911 shares of the oil and gas producer's stock worth $7,189,000 after purchasing an additional 38,660 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Enterprise Products Partners by 70.6% in the third 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 buying an additional 619,014 shares during the period. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Down 2.1%

EPD stock opened at $37.68 on Thursday. The stock's 50 day moving average is $37.58 and its 200-day moving average is $34.38. Enterprise Products Partners L.P. has a twelve month low of $29.90 and a twelve month high of $39.74. The firm has a market capitalization of $81.45 billion, a PE ratio of 13.95, a P/E/G ratio of 1.46 and a beta of 0.52. The company has a quick ratio of 0.74, a current ratio of 1.04 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. 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 19.56%. The company had revenue of $14.39 billion during the quarter, compared to analysts' expectations of $13.62 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company's quarterly revenue was down 6.7% compared to the same quarter last year. Sell-side analysts expect that Enterprise Products Partners L.P. will post 2.89 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Thursday, April 30th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Thursday, April 30th. Enterprise Products Partners's dividend payout ratio is presently 81.48%.

Insider Buying and Selling

In other news, CEO Aj Teague bought 2,665 shares of the company's stock in a transaction on Friday, March 20th. The shares were purchased at an average price of $37.55 per share, with a total value of $100,070.75. Following the transaction, the chief executive officer directly owned 77,576 shares in the company, valued at $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 32.60% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on EPD shares. JPMorgan Chase & Co. raised their price objective on shares of Enterprise Products Partners from $35.00 to $39.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 10th. UBS Group reaffirmed a "buy" rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Monday, April 6th. Wolfe Research upgraded Enterprise Products Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada lifted their price target on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.93.

Enterprise Products Partners 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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