Hsbc Holdings PLC Raises Stock Position in Enterprise Products Partners L.P. $EPD

Hsbc Holdings PLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Royal Palms Capital LLC bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $1,830,000. Texas Yale Capital Corp. boosted its position in shares of Enterprise Products Partners by 4.9% during the fourth quarter. Texas Yale Capital Corp. now owns 1,905,939 shares of the oil and gas producer’s stock worth $61,104,000 after acquiring an additional 88,475 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Enterprise Products Partners by 7.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,510,036 shares of the oil and gas producer’s stock valued at $144,592,000 after acquiring an additional 327,807 shares in the last quarter. Evolve Private Wealth LLC increased its holdings in Enterprise Products Partners by 662.0% in the 1st quarter. Evolve Private Wealth LLC now owns 154,492 shares of the oil and gas producer’s stock valued at $5,846,000 after acquiring an additional 134,218 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Enterprise Products Partners in the 2nd quarter valued at $12,866,000. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on EPD shares. Morgan Stanley reissued 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. UBS Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of Enterprise Products Partners in a report on Wednesday, June 17th. TD Cowen reiterated a “hold” rating and issued a $38.00 target price (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $38.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, June 17th. Finally, Weiss Ratings upgraded Enterprise Products Partners from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Enterprise Products Partners Price Performance

EPD stock opened at $39.33 on Thursday. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The firm has a market capitalization of $84.93 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.42 and a beta of 0.50. The company has a fifty day simple moving average of $38.28 and a two-hundred day simple moving average of $37.84. 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) last announced its earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. Analysts anticipate that Enterprise Products Partners L.P. will post 3.03 earnings per share 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 given a dividend of $0.56 per share. 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 was Friday, July 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 77.78%.

Enterprise Products Partners Company 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.