CIBC Private Wealth Group LLC Boosts Stake in Enterprise Products Partners L.P. (NYSE:EPD)

CIBC Private Wealth Group LLC raised its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,714,144 shares of the oil and gas producer’s stock after acquiring an additional 356,521 shares during the period. CIBC Private Wealth Group LLC’s holdings in Enterprise Products Partners were worth $324,006,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Reby Advisors LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $29,000. Capital Asset Advisory Services LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $32,000. Exchange Traded Concepts LLC acquired a new position in shares of Enterprise Products Partners during the first quarter worth about $33,000. Sterling Financial Planning Inc. acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $36,000. Finally, ADE LLC acquired a new position in shares of Enterprise Products Partners in the fourth quarter worth about $41,000. 28.59% of the stock is owned by hedge funds and other institutional investors.

Shares of Enterprise Products Partners stock traded up $0.23 during midday trading on Friday, reaching $25.28. The company had a trading volume of 22,964 shares, compared to its average volume of 7,058,733. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 1.04. The firm has a market cap of $55.24 billion, a P/E ratio of 14.65 and a beta of 1.40. The company’s fifty day moving average is $23.45. Enterprise Products Partners L.P. has a 1-year low of $14.90 and a 1-year high of $25.09.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Sunday, May 2nd. The oil and gas producer reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.13. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $6.98 billion. Enterprise Products Partners had a net margin of 13.04% and a return on equity of 17.87%. Enterprise Products Partners’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. Equities research analysts expect that Enterprise Products Partners L.P. will post 2.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 12th. Investors of record on Friday, April 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.12%. The ex-dividend date was Thursday, April 29th. Enterprise Products Partners’s dividend payout ratio is currently 85.31%.

EPD has been the subject of a number of research reports. TD Securities initiated coverage on Enterprise Products Partners in a research note on Tuesday, April 6th. They set a “buy” rating and a $28.00 price target for the company. Wells Fargo & Company upped their price target on shares of Enterprise Products Partners from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, May 13th. Finally, Morgan Stanley increased their target price on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, March 22nd. Thirteen equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $25.50.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Featured Story: Why are percentage decliners important?

Want to see what other hedge funds are holding EPD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enterprise Products Partners L.P. (NYSE:EPD).

Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.