Hsbc Holdings PLC Sells 361,058 Shares of Enterprise Products Partners L.P. $EPD

Hsbc Holdings PLC lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 64.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 199,428 shares of the oil and gas producer’s stock after selling 361,058 shares during the period. Hsbc Holdings PLC’s holdings in Enterprise Products Partners were worth $7,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Miller Howard Investments Inc. NY increased its position in shares of Enterprise Products Partners by 1.0% during the 4th quarter. Miller Howard Investments Inc. NY now owns 3,112,119 shares of the oil and gas producer’s stock worth $99,775,000 after purchasing an additional 31,733 shares during the last quarter. Royal Palms Capital LLC acquired a new position in Enterprise Products Partners in the fourth quarter valued at about $1,830,000. Oxbow Advisors LLC boosted its stake in Enterprise Products Partners by 3.0% during the fourth quarter. Oxbow Advisors LLC now owns 1,329,085 shares of the oil and gas producer’s stock worth $42,610,000 after buying an additional 39,052 shares during the period. Texas Yale Capital Corp. increased 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 valued at $61,104,000 after acquiring an additional 88,475 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of 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 during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on EPD shares. TD Cowen restated a “hold” rating and issued a $38.00 price objective (up from $34.00) on shares of Enterprise Products Partners in a report on Thursday, April 16th. Wolfe Research raised Enterprise Products Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Scotiabank restated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Tuesday, May 12th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen cut Enterprise Products Partners from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.93.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $38.82 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Enterprise Products Partners L.P. has a 52 week low of $30.01 and a 52 week high of $40.17. The stock has a market capitalization of $83.91 billion, a PE ratio of 14.38, a P/E/G ratio of 1.41 and a beta of 0.49. The firm has a 50 day moving average of $37.68 and a two-hundred day moving average of $36.73.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The company had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, research analysts predict that Enterprise Products Partners L.P. will post 2.92 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.8%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 31st. Enterprise Products Partners’s dividend payout ratio is 81.48%.

Enterprise Products Partners Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.