Cadence Bank Acquires 4,651 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Cadence Bank grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 8.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 57,037 shares of the oil and gas producer’s stock after acquiring an additional 4,651 shares during the period. Cadence Bank’s holdings in Enterprise Products Partners were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Rosenberg Matthew Hamilton grew its stake in shares of Enterprise Products Partners by 364.4% in the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 656 shares in the last quarter. Tidemark LLC increased its holdings in shares of Enterprise Products Partners by 54.3% during the fourth quarter. Tidemark LLC now owns 904 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 318 shares during the period. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners in the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new position in Enterprise Products Partners during the 4th quarter worth $30,000. Finally, National Bank of Canada FI grew its holdings in shares of Enterprise Products Partners by 55.4% during the 4th quarter. National Bank of Canada FI now owns 1,010 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 360 shares in the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EPD. Morgan Stanley upped their price objective on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 11th. Royal Bank of Canada restated an “outperform” rating and set a $37.00 price objective on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Barclays boosted their price target on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Finally, 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 research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $36.89.

Enterprise Products Partners Trading Up 2.0 %

Shares of EPD stock opened at $31.05 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The stock’s fifty day simple moving average is $32.61 and its 200 day simple moving average is $31.88. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $67.25 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share 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 return on equity of 20.48% and a net margin of 10.49%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, sell-side analysts predict that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.535 per share. This represents a $2.14 annualized dividend and a dividend yield of 6.89%. The ex-dividend date is Wednesday, April 30th. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 79.55%.

About Enterprise Products Partners

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.