Principal Financial Group Inc. Sells 59,451 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Principal Financial Group Inc. trimmed its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,632,115 shares of the oil and gas producer's stock after selling 59,451 shares during the quarter. Principal Financial Group Inc. owned approximately 0.26% of Enterprise Products Partners worth $192,280,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after acquiring an additional 308 shares in the last quarter. Colonial Trust Co SC raised 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 buying an additional 314 shares in the last quarter. Tidemark LLC raised its holdings in shares of Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer's stock worth $28,000 after buying an additional 318 shares in the last quarter. Townsend Asset Management Corp NC ADV raised its holdings in shares of Enterprise Products Partners by 1.6% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 20,018 shares of the oil and gas producer's stock worth $628,000 after buying an additional 321 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its holdings in shares of Enterprise Products Partners by 2.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 14,346 shares of the oil and gas producer's stock worth $450,000 after buying an additional 325 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Trading Up 0.1%

Shares of NYSE EPD traded up $0.05 during trading on Friday, reaching $31.49. The company had a trading volume of 1,887,818 shares, compared to its average volume of 4,484,623. The company's fifty day moving average price is $31.26 and its 200-day moving average price is $32.07. 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 cap of $68.29 billion, a P/E ratio of 11.79, a PEG ratio of 1.31 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The company had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. During the same quarter last year, the firm posted $0.66 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts expect that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th were given a dividend of $0.535 per share. The ex-dividend date was Wednesday, April 30th. This represents a $2.14 annualized dividend and a dividend yield of 6.80%. Enterprise Products Partners's payout ratio is 80.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Barclays lowered their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Wall Street Zen raised Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.56.

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.