CIBC Private Wealth Group LLC Sells 82,632 Shares of Enterprise Products Partners L.P. $EPD

CIBC Private Wealth Group LLC lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 9,276,999 shares of the oil and gas producer’s stock after selling 82,632 shares during the period. CIBC Private Wealth Group LLC’s holdings in Enterprise Products Partners were worth $290,092,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EPD. Brighton Jones LLC boosted its position in shares of Enterprise Products Partners by 19.9% during the fourth quarter. Brighton Jones LLC now owns 32,620 shares of the oil and gas producer’s stock worth $1,023,000 after purchasing an additional 5,425 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Enterprise Products Partners by 9.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,918 shares of the oil and gas producer’s stock valued at $1,827,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC increased its position in shares of Enterprise Products Partners by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 63,702 shares of the oil and gas producer’s stock valued at $1,975,000 after buying an additional 3,742 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Enterprise Products Partners by 6.5% during the 2nd quarter. Avantax Advisory Services Inc. now owns 158,879 shares of the oil and gas producer’s stock worth $4,927,000 after buying an additional 9,653 shares during the period. Finally, Citizens Financial Group Inc. RI raised its stake in Enterprise Products Partners by 78.8% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 28,252 shares of the oil and gas producer’s stock worth $876,000 after buying an additional 12,454 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

EPD stock opened at $37.54 on Wednesday. The stock has a 50-day moving average price of $35.00 and a two-hundred day moving average price of $32.84. Enterprise Products Partners L.P. has a 1 year low of $27.77 and a 1 year high of $38.22. The stock has a market cap of $81.15 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. The company has a current ratio of 1.04, a quick ratio of 0.74 and a debt-to-equity ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Monday, February 2nd. The oil and gas producer reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a return on equity of 19.33% and a net margin of 11.05%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, January 30th. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 82.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on EPD shares. Jefferies Financial Group reissued a “hold” rating and issued a $34.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their price objective on Enterprise Products Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, March 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $40.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, February 4th. Finally, UBS Group reissued a “buy” rating on shares of Enterprise Products Partners in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Hold” and an average target price of $36.86.

Insider Buying and Selling

In other news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction on Monday, December 29th. The stock was purchased at an average price of $32.09 per share, with a total value of $481,350.00. Following the transaction, the director directly owned 173,586 shares in the company, valued at $5,570,374.74. The trade was a 9.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.