Busey Bank Has $1.65 Million Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

Busey Bank cut its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,605 shares of the oil and gas producer’s stock after selling 1,783 shares during the quarter. Busey Bank’s holdings in Enterprise Products Partners were worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EPD. Bank of Montreal Can boosted its stake in Enterprise Products Partners by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 25,371 shares of the oil and gas producer’s stock worth $739,000 after purchasing an additional 570 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Enterprise Products Partners by 46.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 216,741 shares of the oil and gas producer’s stock valued at $6,281,000 after buying an additional 68,691 shares during the last quarter. Cetera Investment Advisers grew its stake in Enterprise Products Partners by 11.8% in the 2nd quarter. Cetera Investment Advisers now owns 901,468 shares of the oil and gas producer’s stock valued at $26,125,000 after buying an additional 95,189 shares during the last quarter. Creekside Partners acquired a new position in shares of Enterprise Products Partners during the 2nd quarter worth approximately $463,000. Finally, Clear Rock Advisors LLC grew its position in shares of Enterprise Products Partners by 8.9% during the 2nd quarter. Clear Rock Advisors LLC now owns 71,273 shares of the oil and gas producer’s stock worth $2,065,000 after purchasing an additional 5,830 shares in the last quarter. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Shares of NYSE EPD opened at $33.64 on Thursday. Enterprise Products Partners L.P. has a twelve month low of $26.12 and a twelve month high of $34.63. The firm has a fifty day simple moving average of $32.46 and a 200 day simple moving average of $30.46. The company has a market capitalization of $72.91 billion, a PE ratio of 12.60, a P/E/G ratio of 1.60 and a beta of 1.09. 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 (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the business earned $0.60 EPS. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.67 EPS for the current year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 6.36%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, January 31st. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 78.65%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Scotiabank initiated coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price target on the stock. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Wednesday, December 18th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America initiated coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

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.