Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 55.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,653 shares of the oil and gas producer's stock after purchasing an additional 30,237 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Enterprise Products Partners were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in EPD. Diversified Trust Co raised its stake in shares of Enterprise Products Partners by 13.7% during the first quarter. Diversified Trust Co now owns 15,122 shares of the oil and gas producer's stock valued at $516,000 after acquiring an additional 1,821 shares during the last quarter. Trek Financial LLC bought a new stake in Enterprise Products Partners during the 4th quarter valued at $3,405,000. Cerity Partners LLC grew its position in shares of Enterprise Products Partners by 18.9% in the 4th quarter. Cerity Partners LLC now owns 470,226 shares of the oil and gas producer's stock worth $14,661,000 after buying an additional 74,710 shares during the period. Fiducient Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 37.3% during the 4th quarter. Fiducient Advisors LLC now owns 77,413 shares of the oil and gas producer's stock valued at $2,428,000 after acquiring an additional 21,025 shares during the last quarter. Finally, OneAscent Financial Services LLC bought a new stake in Enterprise Products Partners during the 4th quarter worth approximately $332,000. Institutional investors own 26.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. increased their price target on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Citigroup decreased their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Barclays dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Finally, TD Cowen began coverage on Enterprise Products Partners in a report on Monday, July 7th. They issued a "hold" rating and a $33.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.36.

Enterprise Products Partners Trading Down 0.9%

NYSE:EPD opened at $31.23 on Friday. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The business has a 50 day moving average price of $31.49 and a two-hundred day moving average price of $32.10. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. The company has a market cap of $67.73 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a return on equity of 19.90% and a net margin of 10.26%. The business had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $14.14 billion. During the same period in the prior year, the firm posted $0.66 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.545 per share. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 annualized dividend and a yield of 6.98%. The ex-dividend date is Thursday, July 31st. Enterprise Products Partners's dividend payout ratio (DPR) is presently 80.15%.

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.

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