Citigroup Inc. Has $1.49 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)
Citigroup Inc. reduced its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD – Free Report) by 97.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,583 shares of the oil and gas producer’s stock after selling 2,359,886 shares during the quarter. Citigroup Inc.’s holdings in Enterprise Products Partners were worth $1,491,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. WealthPLAN Partners LLC bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $25,000. Mcmillion Capital Management Inc. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth $26,000. Pacific Center for Financial Services bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $27,000. Fairfield Bush & CO. bought a new stake in shares of Enterprise Products Partners during the 1st quarter worth $31,000. Finally, Financial Freedom LLC bought a new stake in shares of Enterprise Products Partners during the 4th quarter worth $38,000. 26.54% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Pickering Energy Partners assumed coverage on Enterprise Products Partners in a research report on Tuesday, October 3rd. They set an “outperform” rating for the company. The Goldman Sachs Group began coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They set a “neutral” rating and a $28.00 price objective for the company. Truist Financial dropped their target price on Enterprise Products Partners from $33.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. StockNews.com began coverage on Enterprise Products Partners in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Raymond James dropped their target price on Enterprise Products Partners from $32.00 to $31.00 and set a “strong-buy” rating for the company in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.08.
View Our Latest Analysis on Enterprise Products Partners
Enterprise Products Partners Trading Down 0.3 %
NYSE EPD opened at $26.82 on Tuesday. The business has a 50 day simple moving average of $26.84 and a 200 day simple moving average of $26.59. Enterprise Products Partners L.P. has a one year low of $23.14 and a one year high of $27.95. The stock has a market capitalization of $58.25 billion, a P/E ratio of 10.95 and a beta of 1.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.65.
Enterprise Products Partners (NYSE:EPD – Get Free Report) last released its earnings results on Tuesday, October 31st. The oil and gas producer reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). Enterprise Products Partners had a return on equity of 19.32% and a net margin of 11.04%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.08 billion. During the same period in the prior year, the business earned $0.62 EPS. The company’s revenue for the quarter was down 22.4% on a year-over-year basis. Research analysts expect that Enterprise Products Partners L.P. will post 2.5 earnings per share for the current year.
Enterprise Products Partners Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a $0.50 dividend. The ex-dividend date was Monday, October 30th. This represents a $2.00 dividend on an annualized basis and a yield of 7.46%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 81.63%.
Insider Buying and Selling at Enterprise Products Partners
In other news, Director John R. Rutherford acquired 10,000 shares of Enterprise Products Partners stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $25.96 per share, with a total value of $259,600.00. Following the completion of the purchase, the director now owns 137,423 shares of the company’s stock, valued at approximately $3,567,501.08. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.
Enterprise Products Partners Company Profile (Free Report)
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.
See Also
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