American Century Companies Inc. Reduces Position in Enterprise Products Partners L.P. (EPD)

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American Century Companies Inc. decreased its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,731,065 shares of the oil and gas producer’s stock after selling 664,385 shares during the period. American Century Companies Inc. owned about 0.40% of Enterprise Products Partners worth $241,589,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Roanoke Asset Management Corp NY raised its stake in shares of Enterprise Products Partners by 9.0% during the second quarter. Roanoke Asset Management Corp NY now owns 44,778 shares of the oil and gas producer’s stock valued at $1,239,000 after acquiring an additional 3,697 shares during the last quarter. Baldwin Brothers Inc. MA raised its stake in shares of Enterprise Products Partners by 2.5% during the second quarter. Baldwin Brothers Inc. MA now owns 380,084 shares of the oil and gas producer’s stock valued at $10,517,000 after acquiring an additional 9,193 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Enterprise Products Partners by 3.5% during the second quarter. Segall Bryant & Hamill LLC now owns 655,807 shares of the oil and gas producer’s stock valued at $18,146,000 after acquiring an additional 21,910 shares during the last quarter. Douglas Lane & Associates LLC raised its stake in shares of Enterprise Products Partners by 17.0% during the second quarter. Douglas Lane & Associates LLC now owns 16,501 shares of the oil and gas producer’s stock valued at $457,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Enterprise Products Partners by 8.1% during the second quarter. Cullen Frost Bankers Inc. now owns 105,726 shares of the oil and gas producer’s stock valued at $2,926,000 after acquiring an additional 7,934 shares during the last quarter. 36.32% of the stock is owned by institutional investors and hedge funds.

EPD opened at $29.36 on Tuesday. Enterprise Products Partners L.P. has a twelve month low of $23.10 and a twelve month high of $30.05. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 1.00. The firm has a market cap of $63.97 billion, a PE ratio of 22.24, a PEG ratio of 5.86 and a beta of 0.94.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas producer reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Enterprise Products Partners had a net margin of 8.95% and a return on equity of 14.42%. The company had revenue of $8.47 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the prior year, the company posted $0.30 earnings per share. Enterprise Products Partners’s revenue for the quarter was up 28.1% compared to the same quarter last year. research analysts anticipate that Enterprise Products Partners L.P. will post 1.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 8th. Shareholders of record on Tuesday, July 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.86%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, July 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 130.30%.

Several equities analysts have recently issued reports on EPD shares. Zacks Investment Research downgraded shares of Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Barclays raised their price target on shares of Enterprise Products Partners from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. ValuEngine cut shares of Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus increased their price objective on shares of Enterprise Products Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, SunTrust Banks set a $33.00 price objective on shares of Enterprise Products Partners and gave the stock a “buy” rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $32.38.

In related news, CEO Aj Teague purchased 3,390 shares of Enterprise Products Partners stock in a transaction on Thursday, August 2nd. The stock was acquired at an average cost of $29.48 per share, for a total transaction of $99,937.20. Following the completion of the acquisition, the chief executive officer now owns 1,616,790 shares of the company’s stock, valued at approximately $47,662,969.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 37.50% of the company’s stock.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

See Also: Closed-End Mutual Funds

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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