CoreFirst Bank & Trust Buys New Shares in Enterprise Products Partners L.P. (NYSE:EPD)

CoreFirst Bank & Trust bought a new stake in Enterprise Products Partners L.P. (NYSE:EPD) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,320 shares of the oil and gas producer’s stock, valued at approximately $135,000.

Other hedge funds also recently made changes to their positions in the company. Rosenberg Matthew Hamilton lifted its position 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 during the last quarter. Tidemark LLC lifted its holdings in shares of 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 acquiring an additional 318 shares during the period. Lee Danner & Bass Inc. acquired a new stake in shares of Enterprise Products Partners in the 4th quarter valued at $29,000. Crowley Wealth Management Inc. acquired a new stake in Enterprise Products Partners in the fourth quarter valued at about $30,000. Finally, Bangor Savings Bank boosted its stake in shares of Enterprise Products Partners by 558.3% in the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial raised their price objective on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Finally, Barclays upped their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th. Four equities 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 stock. According to data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.90.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $33.70 on Tuesday. The company’s 50 day moving average price is $33.43 and its two-hundred day moving average price is $31.61. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The stock has a market cap of $72.98 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.37 and a beta of 1.08.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a dividend of $0.535 per share. The ex-dividend date of this dividend was Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.35%. 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.