SG Americas Securities LLC Buys Shares of 88,788 Enterprise Products Partners L.P. $EPD

SG Americas Securities LLC purchased a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 88,788 shares of the oil and gas producer’s stock, valued at approximately $3,360,000.

Other hedge funds have also modified their holdings of the company. PMV Capital Advisers LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter worth $25,000. Palisade Asset Management LLC purchased a new position in Enterprise Products Partners in the third quarter valued at about $31,000. Texas Capital Bancshares Inc TX acquired a new position in Enterprise Products Partners in the 3rd quarter worth about $32,000. Daytona Street Capital LLC acquired a new position in Enterprise Products Partners in the 4th quarter worth about $42,000. Finally, Groesbeck Investment Management Corp NJ purchased a new stake in shares of Enterprise Products Partners during the 4th quarter worth about $45,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD opened at $36.75 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The firm has a market cap of $79.44 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.31 and a beta of 0.49. The business’s 50-day simple moving average is $37.79 and its 200-day simple moving average is $36.05. 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 posted its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.98 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Thursday, April 30th. Enterprise Products Partners’s payout ratio is presently 81.48%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and set a $43.00 price target (up from $42.00) on shares of Enterprise Products Partners in a report on Wednesday, May 20th. Barclays raised their price objective on shares of Enterprise Products Partners from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. UBS Group reiterated a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Citigroup restated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Hold” and a consensus target price of $39.94.

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.