Citizens Financial Group Inc. RI Acquires New Position in Enterprise Products Partners L.P. (NYSE:EPD)

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

Other institutional investors and hedge funds have also modified their holdings of the company. Blackstone Inc. grew its stake in Enterprise Products Partners by 6.3% in the first quarter. Blackstone Inc. now owns 23,533,643 shares of the oil and gas producer’s stock valued at $686,712,000 after purchasing an additional 1,391,370 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Enterprise Products Partners by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 16,221,236 shares of the oil and gas producer’s stock valued at $470,091,000 after buying an additional 741,237 shares in the last quarter. Energy Income Partners LLC increased its holdings in Enterprise Products Partners by 0.9% in the first quarter. Energy Income Partners LLC now owns 15,618,956 shares of the oil and gas producer’s stock worth $455,761,000 after buying an additional 142,689 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Enterprise Products Partners by 2.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 11,175,161 shares of the oil and gas producer’s stock valued at $326,091,000 after acquiring an additional 284,772 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its stake in Enterprise Products Partners by 1.6% in the second quarter. Chickasaw Capital Management LLC now owns 5,517,617 shares of the oil and gas producer’s stock valued at $159,901,000 after acquiring an additional 87,930 shares during the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Down 0.1 %

Shares of EPD stock opened at $29.48 on Thursday. Enterprise Products Partners L.P. has a 12 month low of $25.61 and a 12 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. The firm has a market cap of $64.02 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a 50 day moving average of $29.22 and a 200-day moving average of $28.87.

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

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 7.12%. 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. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.35%.

Wall Street Analyst Weigh In

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

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.