Huntington National Bank lessened its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,799 shares of the oil and gas producer’s stock after selling 968 shares during the quarter. Huntington National Bank’s holdings in Enterprise Products Partners were worth $1,922,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in EPD. Blackstone Group Inc purchased a new stake in shares of Enterprise Products Partners during the 1st quarter valued at about $325,418,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Enterprise Products Partners by 68.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,794,934 shares of the oil and gas producer’s stock worth $197,267,000 after acquiring an additional 5,617,745 shares during the period. Harvest Fund Advisors LLC raised its stake in Enterprise Products Partners by 8.2% during the 1st quarter. Harvest Fund Advisors LLC now owns 56,197,039 shares of the oil and gas producer’s stock worth $803,618,000 after acquiring an additional 4,238,995 shares during the period. TPG Group Holdings SBS Advisors Inc. purchased a new position in shares of Enterprise Products Partners in the first quarter valued at $44,021,000. Finally, ING Groep NV grew its holdings in shares of Enterprise Products Partners by 52.6% in the first quarter. ING Groep NV now owns 8,789,052 shares of the oil and gas producer’s stock valued at $125,683,000 after purchasing an additional 3,029,000 shares in the last quarter. 34.78% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the company. Piper Sandler upgraded Enterprise Products Partners from a “neutral” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Wednesday, July 8th. Wells Fargo & Co upped their price objective on Enterprise Products Partners from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. SunTrust Banks upped their target price on Enterprise Products Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on Enterprise Products Partners from $18.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, Cfra reduced their price objective on Enterprise Products Partners from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.38.
Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Enterprise Products Partners had a return on equity of 18.08% and a net margin of 15.41%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the company posted $0.55 EPS. The business’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 10.11%. The ex-dividend date is Thursday, July 30th. Enterprise Products Partners’s payout ratio is currently 82.79%.
In other news, COO Graham W. Bacon purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was purchased at an average cost of $19.70 per share, with a total value of $197,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 37.50% of the company’s stock.
About Enterprise Products Partners
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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