M&T Bank Corp Lowers Holdings in Enterprise Products Partners L.P. (NYSE:EPD)

M&T Bank Corp reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 581,848 shares of the oil and gas producer's stock after selling 51,834 shares during the period. M&T Bank Corp's holdings in Enterprise Products Partners were worth $19,864,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. 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 valued at $1,023,000 after buying an additional 5,425 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of Enterprise Products Partners by 5.5% during the fourth quarter. Independent Advisor Alliance now owns 138,164 shares of the oil and gas producer's stock valued at $4,333,000 after buying an additional 7,224 shares during the last quarter. Clare Market Investments LLC purchased a new stake in shares of Enterprise Products Partners during the fourth quarter valued at $440,000. Claris Advisors LLC MO boosted its position in shares of Enterprise Products Partners by 1,471.4% during the fourth quarter. Claris Advisors LLC MO now owns 11,000 shares of the oil and gas producer's stock valued at $345,000 after buying an additional 10,300 shares during the last quarter. Finally, Davis R M Inc. lifted its holdings in Enterprise Products Partners by 33.3% in the fourth quarter. Davis R M Inc. now owns 15,371 shares of the oil and gas producer's stock valued at $482,000 after acquiring an additional 3,840 shares during the period. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock traded down $0.14 during trading hours on Friday, hitting $31.91. 2,518,019 shares of the stock traded hands, compared to its average volume of 4,477,639. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm's 50 day moving average price is $31.36 and its 200-day moving average price is $32.09. The stock has a market capitalization of $69.21 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.35 and a beta of 0.64. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, July 31st will be paid a $0.545 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.83%. Enterprise Products Partners's dividend payout ratio is presently 80.15%.

Wall Street Analysts Forecast Growth

EPD has been the topic of a number of recent research reports. Barclays lowered their target price on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Scotiabank increased their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Argus raised Enterprise Products Partners to a "strong-buy" rating in a report on Monday, May 5th. Mizuho decreased their price objective on Enterprise Products Partners from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, TD Cowen assumed coverage on Enterprise Products Partners in a research note on Monday. They issued a "hold" rating and a $33.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.36.

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.