M&T Bank Corp Sells 51,834 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

M&T Bank Corp lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidemark LLC increased its position 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 valued at $28,000 after acquiring an additional 318 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $29,000. Crowley Wealth Management Inc. bought a new stake in shares of Enterprise Products Partners during the fourth quarter valued at approximately $30,000. Security National Bank bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $30,000. Finally, Alpine Bank Wealth Management bought a new stake in shares of Enterprise Products Partners during the first quarter valued at approximately $31,000. Institutional investors own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.14 on Wednesday, hitting $31.86. 4,786,432 shares of the stock traded hands, compared to its average volume of 4,479,957. The firm has a market cap of $69.10 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.30 and a beta of 0.64. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The firm has a 50 day simple moving average of $31.28 and a two-hundred day simple moving average of $32.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas producer reported $0.64 EPS 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, July 31st will be issued a $0.545 dividend. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. This represents a $2.18 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is currently 80.15%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EPD. TD Cowen initiated coverage on shares of Enterprise Products Partners in a research report on Monday. They set a "hold" rating and a $33.00 price target for the company. Barclays dropped their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of Enterprise Products Partners from $36.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 11th. Scotiabank raised their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $37.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Enterprise Products Partners currently has an average rating of "Moderate Buy" and a consensus target price of $36.20.

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.