HFG Advisors Inc. Has $284,000 Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

HFG Advisors Inc. lessened its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 47.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,800 shares of the oil and gas producer’s stock after selling 8,720 shares during the quarter. HFG Advisors Inc.’s holdings in Enterprise Products Partners were worth $284,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JRM Investment Counsel LLC boosted its stake in Enterprise Products Partners by 2.1% during the 4th quarter. JRM Investment Counsel LLC now owns 505,364 shares of the oil and gas producer’s stock worth $13,316,000 after acquiring an additional 10,404 shares during the last quarter. Linscomb & Williams Inc. raised its holdings in Enterprise Products Partners by 16.6% during 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 during the period. Cerity Partners LLC raised its holdings in Enterprise Products Partners by 89.9% during the 4th quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock worth $7,630,000 after buying an additional 137,044 shares during the period. Natixis Advisors L.P. acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $314,000. Finally, Sapient Capital LLC acquired a new stake in Enterprise Products Partners during the 4th quarter worth approximately $3,271,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD stock traded down $0.62 during midday trading on Friday, reaching $28.71. 10,029,438 shares of the company were exchanged, compared to its average volume of 4,602,592. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68. The business has a 50-day moving average price of $28.97 and a two-hundred day moving average price of $28.46. Enterprise Products Partners L.P. has a one year low of $25.61 and a one year high of $30.05. The firm has a market capitalization of $62.35 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). Enterprise Products Partners had a return on equity of 20.18% and a net margin of 10.48%. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.72 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52. Enterprise Products Partners’s payout ratio is presently 82.35%.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPD. JPMorgan Chase & Co. dropped their target price on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 4th. Truist Financial lifted their price objective 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. Finally, Morgan Stanley lowered their price objective on shares of 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, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Buy” and an average price target of $33.08.

About Enterprise Products Partners

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.