US Bancorp DE Boosts Position in Enterprise Products Partners L.P. $EPD

Key Points

• US Bancorp DE increased its stake in Enterprise Products Partners L.P. by 6.7%, owning 717,628 shares valued at approximately $22.25 million as of the end of the second quarter.
• Enterprise Products Partners recently announced a quarterly dividend of $0.545 per share, representing a 7.1% dividend yield and a payout ratio of 81.04%.
• Enterprise Products Partners reported a 10.71% net margin and a year-over-year revenue decline of 15.7% in its latest earnings release, with earnings per share of $0.66 for the quarter.

US Bancorp DE increased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 717,628 shares of the oil and gas producer's stock after purchasing an additional 44,911 shares during the quarter. US Bancorp DE's holdings in Enterprise Products Partners were worth $22,254,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its stake in Enterprise Products Partners by 5.0% during the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after purchasing an additional 1,967,188 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Enterprise Products Partners by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock worth $375,662,000 after purchasing an additional 457,045 shares during the last quarter. Chickasaw Capital Management LLC increased its position in Enterprise Products Partners by 1.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer's stock worth $171,022,000 after buying an additional 81,135 shares during the period. BROOKFIELD Corp ON increased its position in Enterprise Products Partners by 2.8% during the first quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer's stock worth $160,416,000 after buying an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Enterprise Products Partners by 65.3% during the first quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after buying an additional 1,717,768 shares during the period. Hedge funds and other institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Trading Down 1.5%

NYSE:EPD opened at $30.81 on Friday. The firm has a market cap of $66.70 billion, a P/E ratio of 11.45, a PEG ratio of 2.22 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.69 and a debt-to-equity ratio of 1.04. The stock's 50 day simple moving average is $31.58 and its 200-day simple moving average is $31.40. Enterprise Products Partners L.P. has a 12-month low of $27.77 and a 12-month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results 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). The company had revenue of $11.36 billion during the quarter, compared to analyst estimates of $15.24 billion. Enterprise Products Partners had a net margin of 10.71% and a return on equity of 19.81%. The company's revenue for the quarter was down 15.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $0.545 dividend. The ex-dividend date is Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 7.1%. Enterprise Products Partners's payout ratio is 81.04%.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $31.35 per share, for a total transaction of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares in the company, valued at $4,971,671.10. This represents a 10.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 acquired at an average price of $31.55 per share, for a total transaction of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company's stock, valued at approximately $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 owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on EPD. Morgan Stanley cut their price target on Enterprise Products Partners from $35.00 to $33.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 26th. TD Cowen began coverage on Enterprise Products Partners in a research report on Monday, July 7th. They set a "hold" rating and a $33.00 price target on the stock. Barclays cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 2nd. Stifel Nicolaus cut their price target on Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 29th. Finally, Mizuho set a $38.00 price target on Enterprise Products Partners and gave the stock an "outperform" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.75.

Enterprise Products Partners Profile

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.

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