Cullen Frost Bankers Inc. Sells 23,336 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cullen Frost Bankers Inc. lowered its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 30.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,416 shares of the oil and gas producer’s stock after selling 23,336 shares during the period. Cullen Frost Bankers Inc.’s holdings in Enterprise Products Partners were worth $1,706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EPD. Verity & Verity LLC raised its holdings in shares of Enterprise Products Partners by 30.8% during the 4th quarter. Verity & Verity LLC now owns 110,648 shares of the oil and gas producer’s stock valued at $3,470,000 after buying an additional 26,032 shares in the last quarter. Spinnaker Trust purchased a new position in shares of Enterprise Products Partners during the 4th quarter valued at about $280,000. FourThought Financial Partners LLC raised its holdings in shares of Enterprise Products Partners by 18.5% during the 4th quarter. FourThought Financial Partners LLC now owns 140,532 shares of the oil and gas producer’s stock valued at $4,407,000 after buying an additional 21,970 shares in the last quarter. Paragon Advisors LLC purchased a new position in shares of Enterprise Products Partners during the 3rd quarter valued at about $2,628,000. Finally, FMR LLC raised its holdings in shares of Enterprise Products Partners by 9.3% during the 3rd quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock valued at $420,037,000 after buying an additional 1,225,988 shares in the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EPD. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Scotiabank lifted their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy 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 $34.90.

Enterprise Products Partners Stock Up 2.1 %

Shares of NYSE:EPD opened at $33.43 on Friday. The stock has a fifty day simple moving average of $33.06 and a two-hundred day simple moving average of $31.24. The stock has a market capitalization of $72.40 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 12-month low of $27.37 and a 12-month high of $34.63. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.05. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. On average, research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is 79.55%.

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.