M&T Bank Corp Acquires 926 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

M&T Bank Corp increased its holdings in Enterprise Products Partners L.P. (NYSE:EPDGet Rating) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 641,490 shares of the oil and gas producer’s stock after purchasing an additional 926 shares during the period. M&T Bank Corp’s holdings in Enterprise Products Partners were worth $16,556,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Glassy Mountain Advisors Inc. raised its position in shares of Enterprise Products Partners by 2.7% in the first quarter. Glassy Mountain Advisors Inc. now owns 61,212 shares of the oil and gas producer’s stock valued at $1,580,000 after purchasing an additional 1,586 shares during the period. Atria Investments LLC bought a new position in Enterprise Products Partners in the 1st quarter worth $1,467,000. Great Valley Advisor Group Inc. lifted its position in Enterprise Products Partners by 0.4% during the 1st quarter. Great Valley Advisor Group Inc. now owns 131,917 shares of the oil and gas producer’s stock worth $3,397,000 after acquiring an additional 539 shares during the last quarter. Alphastar Capital Management LLC bought a new stake in Enterprise Products Partners during the first quarter valued at about $334,000. Finally, Pacific Global Investment Management Co. grew its position in shares of Enterprise Products Partners by 3.6% in the first quarter. Pacific Global Investment Management Co. now owns 13,695 shares of the oil and gas producer’s stock valued at $353,000 after purchasing an additional 480 shares during the last quarter. 27.29% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $25.70 on Friday. The firm has a market capitalization of $56.04 billion, a P/E ratio of 11.58 and a beta of 1.16. The stock has a fifty day moving average price of $25.65 and a two-hundred day moving average price of $25.43. Enterprise Products Partners L.P. has a 52-week low of $20.42 and a 52-week high of $28.65. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.84 and a quick ratio of 0.67.

Enterprise Products Partners (NYSE:EPDGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Enterprise Products Partners had a net margin of 9.54% and a return on equity of 19.08%. The firm had revenue of $16.06 billion for the quarter, compared to analysts’ expectations of $11.96 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 69.9% compared to the same quarter last year. As a group, analysts anticipate that Enterprise Products Partners L.P. will post 2.5 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 7.39%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.47. The ex-dividend date is Thursday, July 28th. Enterprise Products Partners’s payout ratio is currently 85.59%.

Insider Buying and Selling

In related news, Director Carin Marcy Barth purchased 19,050 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were acquired at an average cost of $23.64 per share, with a total value of $450,342.00. Following the completion of the purchase, the director now directly owns 19,050 shares of the company’s stock, valued at $450,342. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Enterprise Products Partners news, Director John R. Rutherford purchased 6,500 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average price of $25.78 per share, for a total transaction of $167,570.00. Following the transaction, the director now directly owns 113,941 shares in the company, valued at $2,937,398.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carin Marcy Barth purchased 19,050 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was bought at an average cost of $23.64 per share, for a total transaction of $450,342.00. Following the purchase, the director now owns 19,050 shares in the company, valued at $450,342. The disclosure for this purchase can be found here. 37.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on EPD. Raymond James lifted their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “strong-buy” rating in a research report on Thursday. UBS Group boosted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, July 8th. Truist Financial lifted their target price on Enterprise Products Partners from $27.00 to $30.00 in a research report on Tuesday, May 3rd. Mizuho boosted their price target on Enterprise Products Partners from $30.00 to $32.00 in a research note on Tuesday, May 3rd. Finally, US Capital Advisors restated a “buy” rating on shares of Enterprise Products Partners in a research report on Wednesday, June 1st. Three 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

About Enterprise Products Partners

(Get Rating)

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Further Reading

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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