Enterprise Products Partners L.P. $EPD Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 37.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,576 shares of the oil and gas producer’s stock after selling 16,276 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Enterprise Products Partners were worth $884,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its position in Enterprise Products Partners by 11.5% during the 4th quarter. Larson Financial Group LLC now owns 33,624 shares of the oil and gas producer’s stock valued at $1,078,000 after purchasing an additional 3,458 shares during the period. Gables Capital Management Inc. boosted its position in Enterprise Products Partners by 50.0% during the 4th quarter. Gables Capital Management Inc. now owns 3,000 shares of the oil and gas producer’s stock valued at $96,000 after purchasing an additional 1,000 shares during the period. Aviance Capital Partners LLC boosted its position in Enterprise Products Partners by 17.5% during the 4th quarter. Aviance Capital Partners LLC now owns 16,794 shares of the oil and gas producer’s stock valued at $538,000 after purchasing an additional 2,502 shares during the period. ProShare Advisors LLC boosted its position in Enterprise Products Partners by 13.2% during the 4th quarter. ProShare Advisors LLC now owns 135,406 shares of the oil and gas producer’s stock valued at $4,341,000 after purchasing an additional 15,813 shares during the period. Finally, HighTower Advisors LLC boosted its position in Enterprise Products Partners by 24.6% during the 4th quarter. HighTower Advisors LLC now owns 3,858,629 shares of the oil and gas producer’s stock valued at $123,708,000 after purchasing an additional 762,079 shares during the period. Institutional investors and hedge funds own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EPD shares. Royal Bank Of Canada boosted their price objective on Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Jefferies Financial Group boosted their price target on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. boosted their price target on Enterprise Products Partners from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Citigroup reiterated a “buy” rating and set a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Friday, May 1st. Finally, Scotiabank reiterated a “sector perform” rating and set a $40.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research report on Tuesday, May 12th. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.67.

Enterprise Products Partners Stock Up 0.2%

EPD opened at $39.55 on Friday. Enterprise Products Partners L.P. has a one year low of $30.01 and a one year high of $40.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91. The stock’s fifty day moving average is $38.05 and its 200-day moving average is $35.01. The company has a market capitalization of $85.49 billion, a PE ratio of 14.65, a P/E/G ratio of 1.47 and a beta of 0.52.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The firm had revenue of $14.39 billion during the quarter, compared to the consensus estimate of $13.62 billion. During the same period in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts predict that Enterprise Products Partners L.P. will post 2.95 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, April 30th. Enterprise Products Partners’s payout ratio is currently 81.48%.

Insider Activity at Enterprise Products Partners

In other news, CEO Aj Teague acquired 2,665 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $37.55 per share, with a total value of $100,070.75. Following the purchase, the chief executive officer owned 77,576 shares of the company’s stock, valued at approximately $2,912,978.80. This represents a 3.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.