Citizens Financial Group Inc. RI Boosts Stock Position in Enterprise Products Partners L.P. $EPD

Citizens Financial Group Inc. RI raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 78.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,252 shares of the oil and gas producer’s stock after buying an additional 12,454 shares during the period. Citizens Financial Group Inc. RI’s holdings in Enterprise Products Partners were worth $876,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EPD. Brighton Jones LLC boosted its stake in Enterprise Products Partners by 19.9% in the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock valued at $1,023,000 after acquiring an additional 5,425 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Enterprise Products Partners by 7.1% during the 1st quarter. Bank of New York Mellon Corp now owns 314,768 shares of the oil and gas producer’s stock valued at $10,746,000 after purchasing an additional 20,801 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Enterprise Products Partners by 16.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 93,872 shares of the oil and gas producer’s stock worth $3,205,000 after purchasing an additional 13,068 shares in the last quarter. OneAscent Financial Services LLC grew its stake in Enterprise Products Partners by 100.1% during the 1st quarter. OneAscent Financial Services LLC now owns 21,192 shares of the oil and gas producer’s stock worth $724,000 after buying an additional 10,603 shares during the last quarter. Finally, Obermeyer Wealth Partners grew its stake in Enterprise Products Partners by 29.9% during the 1st quarter. Obermeyer Wealth Partners now owns 65,653 shares of the oil and gas producer’s stock worth $2,241,000 after buying an additional 15,119 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $31.73 on Wednesday. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.69 and a current ratio of 0.96. The stock has a market cap of $68.65 billion, a PE ratio of 11.80, a P/E/G ratio of 2.22 and a beta of 0.67. The stock has a 50 day moving average price of $31.29 and a 200 day moving average price of $31.39.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $11.83 billion. During the same period last year, the firm posted $0.65 EPS. The business’s quarterly revenue was down 12.7% on a year-over-year basis. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were issued a $0.545 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. Enterprise Products Partners’s dividend payout ratio is currently 82.26%.

Enterprise Products Partners declared that its Board of Directors has approved a share repurchase program on Thursday, October 30th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the oil and gas producer to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

EPD has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a report on Wednesday, October 8th. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Scotiabank cut their price target on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Finally, Morgan Stanley reduced their price objective on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Enterprise Products Partners 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.