CoreFirst Bank & Trust Invests $135,000 in Enterprise Products Partners L.P. (NYSE:EPD)

CoreFirst Bank & Trust bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,320 shares of the oil and gas producer’s stock, valued at approximately $135,000.

Several other hedge funds have also made changes to their positions in the stock. FMR LLC raised its holdings in Enterprise Products Partners by 9.3% in 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 acquiring an additional 1,225,988 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Enterprise Products Partners by 16.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the period. Brookfield Corp ON lifted its position in Enterprise Products Partners by 6.2% in the third quarter. Brookfield Corp ON now owns 4,762,585 shares of the oil and gas producer’s stock worth $138,639,000 after purchasing an additional 278,892 shares during the period. Stifel Financial Corp increased its holdings in Enterprise Products Partners by 0.3% in the 3rd quarter. Stifel Financial Corp now owns 3,470,689 shares of the oil and gas producer’s stock valued at $101,032,000 after buying an additional 9,257 shares during the period. Finally, LPL Financial LLC raised its stake in shares of Enterprise Products Partners by 10.7% in the 4th quarter. LPL Financial LLC now owns 3,326,224 shares of the oil and gas producer’s stock valued at $104,310,000 after buying an additional 321,145 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on EPD shares. Barclays increased their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Finally, Scotiabank raised their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Enterprise Products Partners Stock Down 0.4 %

NYSE:EPD opened at $33.70 on Tuesday. The company has a market cap of $72.98 billion, a PE ratio of 12.53, a PEG ratio of 1.37 and a beta of 1.08. The stock has a 50-day simple moving average of $33.43 and a 200 day simple moving average of $31.61. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued 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 net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.72 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. This represents a $2.14 annualized dividend and a dividend yield of 6.35%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

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.