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 stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,507,036 shares of the oil and gas producer’s stock after selling 47,772 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.44% of Enterprise Products Partners worth $308,408,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EPD. Trust Co. of Vermont raised its stake in shares of Enterprise Products Partners by 10.0% during the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after purchasing an additional 300 shares in the last quarter. Griffin Asset Management Inc. raised its position in Enterprise Products Partners by 0.8% during the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares in the last quarter. Evanson Asset Management LLC lifted its stake in Enterprise Products Partners by 0.4% in the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock valued at $2,304,000 after acquiring an additional 306 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Enterprise Products Partners by 14.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC increased its stake in shares of Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock worth $317,000 after purchasing an additional 309 shares during the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on EPD. Royal Bank of Canada reiterated an “outperform” rating and issued a $37.00 target price on shares of Enterprise Products Partners in a research note on Wednesday. Morgan Stanley lifted their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Truist Financial boosted their target price on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Scotiabank upped their price objective on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $36.60.

Enterprise Products Partners Price Performance

NYSE:EPD opened at $34.09 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The firm’s 50-day simple moving average is $33.46 and its 200 day simple moving average is $31.73.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The company had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.535 per share. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is 79.55%.

Enterprise Products Partners Company 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.