Enterprise Products Partners L.P. (NYSE:EPD) Shares Bought by CNB Bank

CNB Bank lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 41.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,041 shares of the oil and gas producer’s stock after buying an additional 1,480 shares during the quarter. CNB Bank’s holdings in Enterprise Products Partners were worth $158,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in Enterprise Products Partners by 1.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 63,938 shares of the oil and gas producer’s stock valued at $1,853,000 after purchasing an additional 611 shares during the period. Citizens Financial Group Inc. RI acquired a new position in shares of Enterprise Products Partners in the 2nd quarter valued at $424,000. Axxcess Wealth Management LLC grew its position in shares of Enterprise Products Partners by 59.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 14,871 shares of the oil and gas producer’s stock valued at $431,000 after buying an additional 5,571 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its stake in Enterprise Products Partners by 0.4% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 219,755 shares of the oil and gas producer’s stock worth $6,368,000 after acquiring an additional 924 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Enterprise Products Partners by 9.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 142,512 shares of the oil and gas producer’s stock worth $4,110,000 after purchasing an additional 12,015 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.3 %

Shares of EPD opened at $33.78 on Friday. The stock has a 50 day simple moving average of $31.94 and a 200-day simple moving average of $30.17. Enterprise Products Partners L.P. has a 1 year low of $26.12 and a 1 year high of $34.63. The stock has a market cap of $73.21 billion, a PE ratio of 12.66, a PEG ratio of 1.57 and a beta of 1.09. 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 issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $13.78 billion during the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.34%. 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 78.65%.

Analyst Ratings Changes

Several research firms have recently commented on EPD. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Scotiabank began coverage on Enterprise Products Partners in a research note on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective on the stock. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

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.