Principal Financial Group Inc. Sells 34,746 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Principal Financial Group Inc. decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,923,121 shares of the oil and gas producer’s stock after selling 34,746 shares during the period. Principal Financial Group Inc. owned about 0.27% of Enterprise Products Partners worth $172,422,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners in the 2nd quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $29,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Enterprise Products Partners by 1,000.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Assetmark Inc. lifted its position in Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 1,188 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Enterprise Products Partners in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research note on Wednesday. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Enterprise Products Partners Trading Up 0.3 %

Shares of NYSE:EPD opened at $30.53 on Friday. The stock has a 50 day moving average of $30.92 and a 200 day moving average of $29.72. The company has a market cap of $66.18 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.67 and a beta of 1.08. Enterprise Products Partners L.P. has a 12-month low of $26.02 and a 12-month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is 78.65%.

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.