Citizens Financial Group Inc. RI acquired a new position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 have also added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Enterprise Products Partners during the 2nd quarter valued at $1,473,000. Pavion Blue Capital LLC bought a new position in Enterprise Products Partners during the second quarter valued at $291,000. Auxano Advisors LLC bought a new position in Enterprise Products Partners during the second quarter valued at $476,000. Argyle Capital Partners LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $1,919,000. Finally, MidFirst Bank purchased a new stake in shares of Enterprise Products Partners in the second quarter valued at $509,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Morgan Stanley reaffirmed an "underweight" rating and set a $41.00 target price (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday. TD Cowen reissued a "hold" rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research note on Monday, August 3rd. Weiss Ratings upgraded Enterprise Products Partners from a "buy (b)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. UBS Group reissued a "buy" rating and set a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Enterprise Products Partners from a "buy" rating to a "strong-buy" rating in a research note on Sunday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.00.
Get Our Latest Research Report on Enterprise Products Partners
Enterprise Products Partners Stock Up 0.1%
Shares of NYSE:EPD opened at $38.66 on Wednesday. The business's 50 day moving average is $37.63 and its 200 day moving average is $37.44. The stock has a market cap of $83.48 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 1.30 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. 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 (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. The firm had revenue of $18.27 billion during the quarter, compared to the consensus estimate of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The firm's quarterly revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. Sell-side analysts predict that Enterprise Products Partners L.P. will post 2.98 EPS for the current year.
Enterprise Products Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, July 31st. This is a positive change from Enterprise Products Partners's previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 5.8%. Enterprise Products Partners's dividend payout ratio is 77.78%.
Enterprise Products Partners Profile
(
Free Report)
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.
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