Community Bank N.A. Raises Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Community Bank N.A. boosted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 68.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,848 shares of the oil and gas producer’s stock after buying an additional 750 shares during the period. Community Bank N.A.’s holdings in Enterprise Products Partners were worth $49,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new stake in shares of Enterprise Products Partners during the 3rd quarter valued at $43,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Enterprise Products Partners in the third quarter valued at about $48,000. Bear Mountain Capital Inc. purchased a new position in shares of Enterprise Products Partners during the fourth quarter valued at approximately $53,000. Headinvest LLC bought a new stake in Enterprise Products Partners in the third quarter valued at $62,000. Finally, Allspring Global Investments Holdings LLC increased its position in Enterprise Products Partners by 31.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,591 shares of the oil and gas producer’s stock valued at $68,000 after purchasing an additional 614 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

EPD traded down $0.07 during trading on Friday, hitting $28.86. The company’s stock had a trading volume of 814,620 shares, compared to its average volume of 4,885,380. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99. The business’s 50 day simple moving average is $28.55 and its 200-day simple moving average is $27.32. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market cap of $62.58 billion, a PE ratio of 11.48 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.14%. Enterprise Products Partners’s payout ratio is currently 81.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EPD shares. Wells Fargo & Company lifted their target price on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Scotiabank upped their price target on shares of Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 4th. Stifel Nicolaus raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Truist Financial raised their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, Barclays upped their price objective on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $32.58.

Enterprise Products Partners Profile

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.