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

Key Points

• Hsbc Holdings PLC increased its EPD stake by 13.6% in the second quarter, purchasing 27,115 additional shares for a total position of 226,543 shares valued at approximately $8.3 million. Institutional investors collectively own 26.07% of the company.
• Wall Street maintains a “Moderate Buy” consensus on EPD, with an average price target of $40.00. Ratings include one Strong Buy, seven Buys, seven Holds and one Sell.
• Enterprise Products Partners exceeded quarterly earnings and revenue expectations, reporting $0.84 EPS and $18.27 billion in revenue. The company also raised its quarterly dividend to $0.56 per share, equal to a $2.24 annualized payout and a 5.7% yield.

Hsbc Holdings PLC boosted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 13.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 226,543 shares of the oil and gas producer's stock after purchasing an additional 27,115 shares during the period. Hsbc Holdings PLC's holdings in Enterprise Products Partners were worth $8,328,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Palisade Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter worth about $31,000. N.E.W. Advisory Services LLC acquired a new position in Enterprise Products Partners in the second quarter valued at approximately $37,000. Bravera Wealth boosted its position in Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer's stock worth $38,000 after purchasing an additional 900 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in Enterprise Products Partners in the 2nd quarter worth approximately $48,000. Finally, West Paces Advisors Inc. acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

EPD has been the subject of several recent research reports. Citigroup reaffirmed a "buy" rating and set a $44.00 target price (up from $39.00) on shares of Enterprise Products Partners in a report on Friday, May 1st. TD Cowen restated a "hold" rating and set a $38.00 price target (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Truist Financial raised their price target on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the company a "hold" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of Enterprise Products Partners from $41.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, UBS Group reiterated a "buy" rating and issued a $45.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $40.00.

Enterprise Products Partners Trading Down 0.2%

Shares of EPD stock opened at $38.97 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.93 and a quick ratio of 0.66. The company has a market cap of $84.15 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.28 and a beta of 0.49. The stock has a 50 day simple moving average of $37.89 and a 200-day simple moving average of $37.66. Enterprise Products Partners L.P. has a 1-year low of $30.01 and a 1-year high of $40.17.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $18.27 billion for the quarter, compared to analysts' expectations of $13.69 billion. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, equities research analysts expect that Enterprise Products Partners L.P. will post 3.03 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders 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 5.7%. Enterprise Products Partners's payout ratio is 77.78%.

Enterprise Products Partners Company 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.

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