Hsbc Holdings PLC Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Hsbc Holdings PLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 132.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 569,364 shares of the oil and gas producer's stock after purchasing an additional 324,594 shares during the quarter. Hsbc Holdings PLC's holdings in Enterprise Products Partners were worth $17,872,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Trust Co. of Vermont boosted its stake in Enterprise Products Partners by 10.0% during the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock valued at $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. raised its stake in Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock valued at $1,203,000 after purchasing an additional 305 shares in the last quarter. Evanson Asset Management LLC lifted its position in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after purchasing an additional 306 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock worth $78,000 after buying an additional 308 shares in the last quarter. Finally, Sandbox Financial Partners LLC increased its holdings in shares of Enterprise Products Partners by 3.2% in the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock worth $317,000 after buying an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Scotiabank upped their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Thursday, March 6th. Barclays raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Truist Financial increased their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Royal Bank of Canada restated an "outperform" rating and issued a $37.00 price objective on shares of Enterprise Products Partners in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.89.

Enterprise Products Partners Stock Performance

Shares of NYSE EPD traded up $0.17 during trading on Monday, hitting $31.39. The company had a trading volume of 4,944,070 shares, compared to its average volume of 4,366,817. The stock has a 50 day simple moving average of $32.36 and a 200 day simple moving average of $31.96. The firm has a market capitalization of $67.98 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The business had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Enterprise Products Partners's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $0.535 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.82%. Enterprise Products Partners's dividend payout ratio (DPR) is presently 79.55%.

Enterprise Products Partners Company Profile

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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.