M&T Bank Corp Has $19.87 Million Position in Enterprise Products Partners L.P. (NYSE:EPD)

M&T Bank Corp grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 633,682 shares of the oil and gas producer’s stock after buying an additional 4,273 shares during the period. M&T Bank Corp’s holdings in Enterprise Products Partners were worth $19,872,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Farther Finance Advisors LLC raised its position in Enterprise Products Partners by 56.1% in the third quarter. Farther Finance Advisors LLC now owns 10,037 shares of the oil and gas producer’s stock worth $292,000 after purchasing an additional 3,607 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Enterprise Products Partners by 0.5% in the third quarter. Janney Montgomery Scott LLC now owns 747,378 shares of the oil and gas producer’s stock worth $21,756,000 after purchasing an additional 3,533 shares in the last quarter. Van ECK Associates Corp raised its position in Enterprise Products Partners by 12.2% in the third quarter. Van ECK Associates Corp now owns 84,939 shares of the oil and gas producer’s stock worth $2,461,000 after purchasing an additional 9,209 shares in the last quarter. NorthRock Partners LLC raised its position in Enterprise Products Partners by 9.2% in the third quarter. NorthRock Partners LLC now owns 19,913 shares of the oil and gas producer’s stock worth $580,000 after purchasing an additional 1,679 shares in the last quarter. Finally, JFG Wealth Management LLC raised its position in Enterprise Products Partners by 4.6% in the third quarter. JFG Wealth Management LLC now owns 20,280 shares of the oil and gas producer’s stock worth $590,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPD. 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. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial upped 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. Finally, Scotiabank initiated coverage on shares of 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Price Performance

EPD opened at $33.18 on Thursday. Enterprise Products Partners L.P. has a one year low of $27.37 and a one year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company’s 50 day simple moving average is $32.98 and its 200-day simple moving average is $31.20. The stock has a market capitalization of $71.85 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08.

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

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.535 per share. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend 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.