BBVA USA Bancshares Inc. Raises Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

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BBVA USA Bancshares Inc. lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 407.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 134,365 shares of the oil and gas producer’s stock after acquiring an additional 107,875 shares during the period. BBVA USA Bancshares Inc.’s holdings in Enterprise Products Partners were worth $3,841,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. grew its stake in shares of Enterprise Products Partners by 1.0% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 41,620,404 shares of the oil and gas producer’s stock worth $1,201,581,000 after acquiring an additional 431,656 shares during the last quarter. Energy Income Partners LLC boosted its position in Enterprise Products Partners by 6.6% in the second quarter. Energy Income Partners LLC now owns 22,050,598 shares of the oil and gas producer’s stock valued at $636,601,000 after buying an additional 1,366,532 shares during the last quarter. Morgan Stanley boosted its position in Enterprise Products Partners by 9.4% in the second quarter. Morgan Stanley now owns 21,438,384 shares of the oil and gas producer’s stock valued at $618,927,000 after buying an additional 1,835,431 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Enterprise Products Partners by 7.3% in the third quarter. CIBC Private Wealth Group LLC now owns 18,911,235 shares of the oil and gas producer’s stock valued at $540,482,000 after buying an additional 1,291,052 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Enterprise Products Partners by 3,750.3% in the second quarter. Invesco Ltd. now owns 16,978,814 shares of the oil and gas producer’s stock valued at $490,179,000 after buying an additional 16,537,844 shares during the last quarter. Institutional investors and hedge funds own 36.77% of the company’s stock.

A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Enterprise Products Partners from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research report on Monday, August 26th. Scotiabank assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. ValuEngine lowered Enterprise Products Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Royal Bank of Canada assumed coverage on Enterprise Products Partners in a research report on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Scotia Howard Weill assumed coverage on Enterprise Products Partners in a research report on Wednesday, September 4th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.50.

Shares of NYSE:EPD opened at $26.05 on Tuesday. Enterprise Products Partners L.P. has a 12-month low of $23.33 and a 12-month high of $30.86. The company has a market capitalization of $58.34 billion, a PE ratio of 13.43, a PEG ratio of 3.05 and a beta of 0.87. The business has a 50 day moving average of $27.52 and a two-hundred day moving average of $28.59. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.06.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Monday, October 28th. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.05). Enterprise Products Partners had a net margin of 14.07% and a return on equity of 19.78%. The company had revenue of $7.96 billion during the quarter, compared to analyst estimates of $8.97 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was down 16.9% compared to the same quarter last year. Equities research analysts predict that Enterprise Products Partners L.P. will post 2.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Thursday, October 31st will be issued a $0.4425 dividend. The ex-dividend date is Wednesday, October 30th. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.44. This represents a $1.77 dividend on an annualized basis and a yield of 6.79%. Enterprise Products Partners’s payout ratio is presently 91.24%.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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