14,642 Shares in Enterprise Products Partners L.P. (NYSE:EPD) Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new stake in Enterprise Products Partners L.P. (NYSE:EPD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,642 shares of the oil and gas producer’s stock, valued at approximately $424,000.

A number of other hedge funds also recently made changes to their positions in EPD. JRM Investment Counsel LLC increased its stake in Enterprise Products Partners by 2.1% in the fourth quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock valued at $13,316,000 after acquiring an additional 10,404 shares during the period. Linscomb & Williams Inc. raised its holdings in shares of Enterprise Products Partners by 16.6% in the 4th quarter. Linscomb & Williams Inc. now owns 204,907 shares of the oil and gas producer’s stock worth $5,399,000 after buying an additional 29,112 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Enterprise Products Partners by 37.5% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 881,700 shares of the oil and gas producer’s stock worth $23,233,000 after buying an additional 240,300 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Enterprise Products Partners by 19.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 23,469 shares of the oil and gas producer’s stock valued at $685,000 after buying an additional 3,770 shares in the last quarter. Finally, Platform Technology Partners grew its position in Enterprise Products Partners by 14.4% in the fourth quarter. Platform Technology Partners now owns 27,245 shares of the oil and gas producer’s stock valued at $722,000 after acquiring an additional 3,426 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EPD. Morgan Stanley cut their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Truist Financial boosted their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.08.

Enterprise Products Partners Trading Down 0.1 %

EPD stock opened at $29.48 on Thursday. The business has a fifty day moving average of $29.22 and a 200-day moving average of $28.87. The company has a market cap of $64.02 billion, a P/E ratio of 11.56, a PEG ratio of 1.49 and a beta of 1.03. Enterprise Products Partners L.P. has a twelve month low of $25.61 and a twelve month high of $30.05. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business had revenue of $13.48 billion for the quarter, compared to analyst estimates of $14.23 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.525 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 7.12%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

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.