Hsbc Holdings PLC Purchases 27,115 Shares of Enterprise Products Partners L.P. $EPD

Hsbc Holdings PLC boosted its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 13.6% during the 2nd quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Palisade Asset Management LLC bought a new stake in Enterprise Products Partners in the third quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Enterprise Products Partners in the second quarter worth approximately $37,000. Bravera Wealth raised its holdings in shares of Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after buying an additional 900 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at $48,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Trading Up 1.3%

EPD opened at $39.33 on Thursday. 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 stock’s fifty day moving average is $38.28 and its two-hundred day moving average is $37.84. The company has a market capitalization of $84.93 billion, a P/E ratio of 13.66, a PEG ratio of 1.42 and a beta of 0.50. 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 issued its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The business had revenue of $18.27 billion during the quarter, compared to analysts’ expectations of $13.69 billion. During the same period in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. Analysts forecast that Enterprise Products Partners L.P. will post 3.03 earnings per share 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 paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 5.7%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, July 31st. Enterprise Products Partners’s payout ratio is currently 77.78%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EPD. Wall Street Zen raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday. JPMorgan Chase & Co. boosted their target price 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 restated a “hold” rating and issued a $38.00 price target (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, Morgan Stanley reiterated an “underweight” rating and set a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a report on Tuesday, August 18th. One equities 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a publicly traded midstream energy partnership that provides transportation, storage, processing and export services for crude oil, natural gas, natural gas liquids (NGLs), petrochemicals and refined products. The company operates an integrated network of pipelines, processing plants, fractionation facilities, storage assets and marine terminals.

Enterprise’s NGL operations include natural gas processing, NGL fractionation and the production and distribution of ethane, propane, butanes and natural gasoline.