9,344,233 Shares in Enterprise Products Partners L.P. $EPD Acquired by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. acquired a new stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, HoldingsChannel reports. The firm acquired 9,344,233 shares of the oil and gas producer’s stock, valued at approximately $292,194,000. Enterprise Products Partners comprises 1.0% of CIBC Bancorp USA Inc.’s portfolio, making the stock its 16th biggest holding.

Several other hedge funds also recently bought and sold shares of EPD. Sunbelt Securities Inc. grew its holdings in shares of Enterprise Products Partners by 6.1% in the third quarter. Sunbelt Securities Inc. now owns 225,956 shares of the oil and gas producer’s stock worth $7,066,000 after purchasing an additional 13,008 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in Enterprise Products Partners during the 3rd quarter valued at about $68,000. Greenline Partners LLC lifted its holdings in Enterprise Products Partners by 10.2% during the 3rd quarter. Greenline Partners LLC now owns 76,032 shares of the oil and gas producer’s stock valued at $2,378,000 after buying an additional 7,010 shares in the last quarter. Keystone Financial Group boosted its position in Enterprise Products Partners by 21.5% in the 3rd quarter. Keystone Financial Group now owns 45,703 shares of the oil and gas producer’s stock valued at $1,430,000 after buying an additional 8,080 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in Enterprise Products Partners in the 3rd quarter valued at about $31,000. Institutional investors own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

EPD has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enterprise Products Partners in a research report on Thursday, January 22nd. Raymond James Financial lowered Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a report on Monday, January 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a research note on Friday, December 19th. Stifel Nicolaus raised their price objective on Enterprise Products Partners from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, TD Cowen upped their target price on Enterprise Products Partners from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $36.86.

Enterprise Products Partners Price Performance

NYSE EPD opened at $37.54 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.74 and a current ratio of 1.04. The firm’s 50 day moving average price is $35.00 and its 200-day moving average price is $32.84. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $38.22. The company has a market cap of $81.15 billion, a PE ratio of 14.11, a P/E/G ratio of 1.50 and a beta of 0.58.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Monday, February 2nd. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. The company had revenue of $13.79 billion for the quarter, compared to analyst estimates of $12.44 billion. Enterprise Products Partners had a net margin of 11.05% and a return on equity of 19.33%. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. Sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a $0.55 dividend. The ex-dividend date was Friday, January 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.9%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.55. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.71%.

Insider Activity at Enterprise Products Partners

In related news, Director John R. Rutherford purchased 15,000 shares of Enterprise Products Partners stock in a transaction dated Monday, December 29th. The stock was purchased at an average cost of $32.09 per share, with a total value of $481,350.00. Following the transaction, the director owned 173,586 shares in the company, valued at approximately $5,570,374.74. The trade was a 9.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 32.60% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.