CIBC Private Wealth Group LLC Has $308.41 Million Stock Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

CIBC Private Wealth Group LLC lowered its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,507,036 shares of the oil and gas producer’s stock after selling 47,772 shares during the period. CIBC Private Wealth Group LLC’s holdings in Enterprise Products Partners were worth $308,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of EPD. Rosenberg Matthew Hamilton raised its stake in 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 acquiring an additional 656 shares in the last quarter. Tidemark LLC increased its position in Enterprise Products Partners by 54.3% during the 4th quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Enterprise Products Partners in the 4th quarter valued at approximately $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at approximately $30,000. Finally, Bangor Savings Bank grew its stake in shares of Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 1,072 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $34.09 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $33.46 and a two-hundred day simple moving average of $31.73. Enterprise Products Partners L.P. has a 12 month low of $27.37 and a 12 month high of $34.63. The firm has a market capitalization of $73.83 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

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

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.535 dividend. This is a positive change 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 6.28%. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Wall Street Analyst Weigh In

EPD has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. raised their price target on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial boosted their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wolfe Research lowered Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 10th. Finally, Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Enterprise Products Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

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.