Enterprise Products Partners L.P. (NYSE:EPD) Position Boosted by M&T Bank Corp

M&T Bank Corp boosted its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 633,682 shares of the oil and gas producer’s stock after acquiring an additional 4,273 shares during the period. M&T Bank Corp’s holdings in Enterprise Products Partners were worth $19,872,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EPD. Rosenberg Matthew Hamilton boosted its position in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the period. Assetmark Inc. increased its holdings in shares of Enterprise Products Partners by 19,800.0% in the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,188 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Enterprise Products Partners in the third quarter valued at $36,000. Bangor Savings Bank increased its holdings in shares of Enterprise Products Partners by 558.3% in the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 1,072 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Enterprise Products Partners in the fourth quarter valued at $40,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent analyst reports. Scotiabank started coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Wolfe Research cut shares of 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 report on Tuesday, February 18th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a report on Wednesday, December 18th. Finally, Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.70.

Enterprise Products Partners Stock Down 0.4 %

EPD stock opened at $33.18 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners L.P. has a 52-week low of $27.37 and a 52-week high of $34.63. The company has a 50-day moving average of $32.98 and a two-hundred day moving average of $31.20. The stock has a market capitalization of $71.85 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current 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 given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.45%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio is currently 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.