PNC Financial Services Group Inc. Has $36.57 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

PNC Financial Services Group Inc. lessened its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,256,156 shares of the oil and gas producer's stock after selling 34,885 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Enterprise Products Partners worth $36,567,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Enterprise Products Partners during the 1st quarter worth approximately $212,000. O Shaughnessy Asset Management LLC boosted its position in Enterprise Products Partners by 19.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer's stock valued at $685,000 after purchasing an additional 3,770 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Enterprise Products Partners in the first quarter valued at approximately $421,000. Natixis increased its position in shares of Enterprise Products Partners by 144.9% during the 1st quarter. Natixis now owns 74,872 shares of the oil and gas producer's stock worth $2,185,000 after purchasing an additional 44,300 shares during the last quarter. Finally, Freestone Capital Holdings LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth approximately $252,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded up $0.55 during midday trading on Thursday, hitting $32.34. The company's stock had a trading volume of 3,700,042 shares, compared to its average volume of 4,296,563. The company has a 50-day moving average price of $29.60 and a two-hundred day moving average price of $29.13. Enterprise Products Partners L.P. has a 1-year low of $25.96 and a 1-year high of $32.56. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market cap of $70.09 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.63 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.525 per share. The ex-dividend date was Thursday, October 31st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.49%. Enterprise Products Partners's dividend payout ratio (DPR) is currently 78.65%.

Wall Street Analyst Weigh In

EPD has been the topic of several analyst reports. StockNews.com lowered shares of Enterprise Products Partners from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 12th. US Capital Advisors upgraded Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $34.00.

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.