First Hawaiian Bank Sells 17,182 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

First Hawaiian Bank decreased its position in Enterprise Products Partners L.P. (NYSE:EPD) by 48.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 18,244 shares of the oil and gas producer’s stock after selling 17,182 shares during the period. First Hawaiian Bank’s holdings in Enterprise Products Partners were worth $532,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of EPD. QRG Capital Management Inc. bought a new position in Enterprise Products Partners in the third quarter valued at $221,000. Envestnet Asset Management Inc. increased its position in shares of Enterprise Products Partners by 13.5% in the third quarter. Envestnet Asset Management Inc. now owns 917,823 shares of the oil and gas producer’s stock valued at $25,121,000 after acquiring an additional 109,506 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Enterprise Products Partners during the third quarter worth about $263,000. Acadian Asset Management LLC acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $3,793,000. Finally, LPL Financial LLC grew its stake in Enterprise Products Partners by 7.7% in the third quarter. LPL Financial LLC now owns 2,213,819 shares of the oil and gas producer’s stock valued at $60,592,000 after purchasing an additional 157,450 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EPD shares. Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Morgan Stanley dropped their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Monday, June 10th. JPMorgan Chase & Co. decreased their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Mizuho reiterated a “buy” rating and set a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.77.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $28.56 on Friday. The company has a market capitalization of $62.02 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.31 and a beta of 1.03. The stock’s 50 day moving average is $28.47 and its 200-day moving average is $27.79. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 month high of $29.99.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The firm had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.73 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend was Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is 80.78%.

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.