Cullen Frost Bankers Inc. Trims Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Cullen Frost Bankers Inc. lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,416 shares of the oil and gas producer's stock after selling 23,336 shares during the period. Cullen Frost Bankers Inc.'s holdings in Enterprise Products Partners were worth $1,706,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its holdings in shares of Enterprise Products Partners by 10.0% in the fourth quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer's stock worth $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. increased its holdings in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer's stock worth $1,203,000 after buying an additional 305 shares during the period. Evanson Asset Management LLC increased its holdings in Enterprise Products Partners by 0.4% during the 4th quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer's stock valued at $2,304,000 after purchasing an additional 306 shares during the period. Smartleaf Asset Management LLC increased its holdings in Enterprise Products Partners by 14.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,501 shares of the oil and gas producer's stock valued at $78,000 after purchasing an additional 308 shares during the period. Finally, Sandbox Financial Partners LLC increased its holdings in Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer's stock valued at $317,000 after purchasing an additional 309 shares during the period. Institutional investors own 26.07% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on EPD shares. Truist Financial boosted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Wells Fargo & Company downgraded Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Citigroup restated a "buy" rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wolfe Research cut Enterprise Products Partners from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 10th. Finally, Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a "sector perform" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.90.

Enterprise Products Partners Stock Up 2.1 %

Shares of EPD traded up $0.68 during mid-day trading on Friday, reaching $33.43. The company had a trading volume of 6,028,329 shares, compared to its average volume of 4,889,962. The company has a market capitalization of $72.40 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners L.P. has a 52 week low of $27.37 and a 52 week high of $34.63. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm has a 50-day moving average price of $33.06 and a 200 day moving average price of $31.25.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analysts' expectations of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. The firm's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. On average, sell-side analysts forecast that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a $0.535 dividend. The ex-dividend date was Friday, January 31st. This is a boost from Enterprise Products Partners's previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.40%. Enterprise Products Partners's dividend payout ratio is 79.55%.

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.