Citizens Financial Group Inc. RI Invests $990,000 in Enterprise Products Partners L.P. $EPD

Citizens Financial Group Inc. RI acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 26,923 shares of the oil and gas producer’s stock, valued at approximately $990,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EPD. Everest Financial Group LLC lifted its stake in shares of Enterprise Products Partners by 3.6% during the first quarter. Everest Financial Group LLC now owns 7,886 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 271 shares during the period. Walker Asset Management LLC increased its position in shares of Enterprise Products Partners by 1.4% in the 2nd quarter. Walker Asset Management LLC now owns 20,256 shares of the oil and gas producer’s stock valued at $745,000 after acquiring an additional 282 shares during the period. Hobbs Group Advisors LLC raised its stake in Enterprise Products Partners by 1.4% in the 1st quarter. Hobbs Group Advisors LLC now owns 20,895 shares of the oil and gas producer’s stock worth $791,000 after acquiring an additional 298 shares during the last quarter. Hunter Associates Investment Management LLC raised its stake in Enterprise Products Partners by 3.8% in the 1st quarter. Hunter Associates Investment Management LLC now owns 8,106 shares of the oil and gas producer’s stock worth $307,000 after acquiring an additional 300 shares during the last quarter. Finally, Mission Wealth Management LP lifted its position in Enterprise Products Partners by 1.0% during the 4th quarter. Mission Wealth Management LP now owns 32,348 shares of the oil and gas producer’s stock worth $1,037,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.66 on Wednesday. The stock has a market capitalization of $83.48 billion, a PE ratio of 13.42, a P/E/G ratio of 1.30 and a beta of 0.49. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The firm has a 50 day moving average of $37.63 and a two-hundred day moving average of $37.44.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the previous year, the firm posted $0.66 EPS. Enterprise Products Partners’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a $0.56 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, July 31st. Enterprise Products Partners’s payout ratio is 77.78%.

Analysts Set New Price Targets

EPD has been the subject of a number of recent research reports. Wall Street Zen raised shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. JPMorgan Chase & Co. raised their price objective on Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. UBS Group restated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Citigroup reissued a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $38.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

About Enterprise Products Partners

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.