M&T Bank Corp Sells 116,151 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

M&T Bank Corp decreased its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 629,409 shares of the oil and gas producer's stock after selling 116,151 shares during the quarter. M&T Bank Corp's holdings in Enterprise Products Partners were worth $18,322,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EPD. QRG Capital Management Inc. boosted its holdings in shares of Enterprise Products Partners by 6.0% during the 2nd quarter. QRG Capital Management Inc. now owns 9,548 shares of the oil and gas producer's stock worth $277,000 after buying an additional 541 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Enterprise Products Partners by 20.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,215 shares of the oil and gas producer's stock worth $702,000 after buying an additional 4,084 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Enterprise Products Partners by 4.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 946,629 shares of the oil and gas producer's stock worth $27,433,000 after buying an additional 36,431 shares during the period. Great Valley Advisor Group Inc. boosted its holdings in shares of Enterprise Products Partners by 14.0% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 93,552 shares of the oil and gas producer's stock worth $2,711,000 after buying an additional 11,455 shares during the period. Finally, Galvin Gaustad & Stein LLC boosted its holdings in shares of Enterprise Products Partners by 13.4% during the 2nd quarter. Galvin Gaustad & Stein LLC now owns 33,810 shares of the oil and gas producer's stock worth $980,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 26.07% of the company's stock.

Enterprise Products Partners Price Performance

EPD stock traded up $0.23 during trading on Wednesday, hitting $32.42. 2,731,697 shares of the stock traded hands, compared to its average volume of 4,323,620. Enterprise Products Partners L.P. has a one year low of $25.96 and a one year high of $34.63. The stock has a market cap of $70.27 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a 50 day simple moving average of $30.62 and a 200 day simple moving average of $29.58. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The company's revenue for the quarter was up 14.8% on a year-over-year basis. Equities analysts expect that Enterprise Products Partners L.P. will post 2.69 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners's dividend payout ratio is presently 78.65%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a "buy" rating and a $35.00 price target for the company. Finally, US Capital Advisors raised shares of Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $34.00.

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.