Enterprise Products Partners L.P. $EPD Stock Position Lowered by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 64.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 199,428 shares of the oil and gas producer’s stock after selling 361,058 shares during the period. Hsbc Holdings PLC’s holdings in Enterprise Products Partners were worth $7,546,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Alps Advisors Inc. increased its holdings in shares of Enterprise Products Partners by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 42,639,131 shares of the oil and gas producer’s stock valued at $1,367,011,000 after purchasing an additional 260,305 shares during the period. Auto Owners Insurance Co boosted its holdings in shares of Enterprise Products Partners by 3,106.0% during the fourth quarter. Auto Owners Insurance Co now owns 32,060,000 shares of the oil and gas producer’s stock worth $102,784,000 after purchasing an additional 31,060,000 shares during the period. Morgan Stanley boosted its holdings in shares of Enterprise Products Partners by 4.8% during the fourth quarter. Morgan Stanley now owns 19,116,333 shares of the oil and gas producer’s stock worth $612,870,000 after purchasing an additional 883,983 shares during the period. Goldman Sachs Group Inc. grew its position in Enterprise Products Partners by 12.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,163,343 shares of the oil and gas producer’s stock valued at $582,317,000 after purchasing an additional 1,940,583 shares in the last quarter. Finally, Energy Income Partners LLC lifted its position in Enterprise Products Partners by 0.6% in the 3rd quarter. Energy Income Partners LLC now owns 14,705,122 shares of the oil and gas producer’s stock worth $459,829,000 after buying an additional 80,884 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on EPD. UBS Group restated a “buy” rating and set a $45.00 price target on shares of Enterprise Products Partners in a report on Wednesday, June 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, June 17th. Stifel Nicolaus upped their target price on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group raised their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Finally, Wolfe Research upgraded Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Enterprise Products Partners presently has a consensus rating of “Hold” and an average target price of $39.93.

Enterprise Products Partners Trading Down 0.2%

Shares of NYSE:EPD opened at $38.82 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $83.91 billion, a PE ratio of 14.38, a P/E/G ratio of 1.41 and a beta of 0.49. Enterprise Products Partners L.P. has a 1 year low of $30.01 and a 1 year high of $40.17. The firm has a fifty day moving average price of $37.68 and a 200 day moving average price of $36.73.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. During the same period in the prior year, the firm earned $0.64 EPS. Enterprise Products Partners’s quarterly revenue was down 6.7% on a year-over-year basis. Analysts expect that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.8%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 81.48%.

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.