PNC Financial Services Group Inc. Has $45.43 Million Position in Enterprise Products Partners L.P. $EPD

PNC Financial Services Group Inc. lessened its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200,531 shares of the oil and gas producer’s stock after selling 20,417 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Enterprise Products Partners worth $45,428,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% during the 4th quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after purchasing an additional 5,425 shares during the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Enterprise Products Partners by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock worth $1,827,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Enterprise Products Partners by 6.2% in the second quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after purchasing an additional 3,742 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Enterprise Products Partners by 6.1% during the second quarter. Guggenheim Capital LLC now owns 27,301 shares of the oil and gas producer’s stock valued at $847,000 after buying an additional 1,578 shares during the last quarter. Finally, Glenview Trust co boosted its position in shares of Enterprise Products Partners by 315.8% during the second quarter. Glenview Trust co now owns 33,648 shares of the oil and gas producer’s stock valued at $1,043,000 after buying an additional 25,555 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EPD shares. Jefferies Financial Group increased their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Stifel Nicolaus upped their target price on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $40.00 price target on shares of Enterprise Products Partners and gave the company an “underweight” rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD opened at $38.82 on Friday. The stock has a market capitalization of $83.91 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock’s 50-day simple moving average is $37.68 and its 200 day simple moving average is $36.73. Enterprise Products Partners L.P. has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to the consensus estimate of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. Research analysts forecast that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.56 dividend. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.8%. Enterprise Products Partners’s dividend payout ratio is currently 81.48%.

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.