Enterprise Products Partners L.P. $EPD Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in Enterprise Products Partners L.P. (NYSE:EPD) by 13.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,543 shares of the oil and gas producer’s stock after acquiring an additional 27,115 shares during the quarter. Hsbc Holdings PLC’s holdings in Enterprise Products Partners were worth $8,328,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Arkos Global Advisors raised its stake in Enterprise Products Partners by 8.0% in the 2nd quarter. Arkos Global Advisors now owns 12,310 shares of the oil and gas producer’s stock valued at $453,000 after purchasing an additional 908 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Enterprise Products Partners by 8.4% during the 2nd quarter. Jones Financial Companies Lllp now owns 214,632 shares of the oil and gas producer’s stock worth $7,850,000 after purchasing an additional 16,597 shares during the last quarter. Park Place Capital Corp boosted its stake in Enterprise Products Partners by 5.8% during the 2nd quarter. Park Place Capital Corp now owns 25,204 shares of the oil and gas producer’s stock worth $926,000 after purchasing an additional 1,389 shares during the last quarter. Fiduciary Financial Advisors purchased a new stake in shares of Enterprise Products Partners during the second quarter worth $74,000. Finally, Nitor Capital Management LLC grew its holdings in shares of Enterprise Products Partners by 0.4% during the second quarter. Nitor Capital Management LLC now owns 223,604 shares of the oil and gas producer’s stock worth $8,220,000 after buying an additional 1,000 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank reissued a “sector perform” rating and issued a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. TD Cowen reiterated a “hold” rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a report on Monday, August 3rd. Weiss Ratings raised shares of Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $38.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Stock Down 0.2%

NYSE EPD opened at $38.97 on Friday. The business’s fifty day simple moving average is $37.89 and its 200-day simple moving average is $37.66. The company has a quick ratio of 0.66, a current ratio of 0.93 and a debt-to-equity ratio of 1.00. The firm has a market cap of $84.15 billion, a PE ratio of 13.53, a P/E/G ratio of 1.28 and a beta of 0.49. 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 announced its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Enterprise Products Partners’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, equities analysts anticipate that Enterprise Products Partners L.P. will post 3.03 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were 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 was Friday, July 31st. This represents a $2.24 annualized dividend and a dividend yield of 5.7%. Enterprise Products Partners’s dividend payout ratio is currently 77.78%.

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.