Tufton Capital Management Increases Position in Enterprise Products Partners L.P. (NYSE:EPD)

Tufton Capital Management grew its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 88,962 shares of the oil and gas producer’s stock after buying an additional 403 shares during the period. Tufton Capital Management’s holdings in Enterprise Products Partners were worth $2,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC increased its stake in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock worth $73,699,000 after acquiring an additional 1,326,010 shares during the period. FMR LLC increased its stake in shares of Enterprise Products Partners by 9.3% during the third quarter. FMR LLC now owns 14,429,298 shares of the oil and gas producer’s stock worth $420,037,000 after acquiring an additional 1,225,988 shares during the period. Merewether Investment Management LP acquired a new position in shares of Enterprise Products Partners during the third quarter worth about $30,746,000. Strategic Financial Concepts LLC increased its stake in shares of Enterprise Products Partners by 3,884.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 682,853 shares of the oil and gas producer’s stock worth $21,414,000 after acquiring an additional 665,716 shares during the period. Finally, Fisher Funds Management LTD acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth about $13,599,000. 26.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EPD shares. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Wells Fargo & Company cut shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price for the company. in a report on Wednesday, December 18th. Wolfe Research cut shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Scotiabank assumed coverage on shares of Enterprise Products Partners in a report on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Finally, Truist Financial raised their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. 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 company’s stock. According to data from MarketBeat, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.70.

Enterprise Products Partners Stock Down 0.9 %

Shares of NYSE EPD opened at $32.85 on Friday. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63. The firm’s 50 day moving average price is $32.80 and its 200 day moving average price is $31.05. The firm has a market cap of $71.19 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The firm had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.72 earnings per share. Enterprise Products Partners’s revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.535 per share. The ex-dividend date was Friday, January 31st. This represents a $2.14 dividend on an annualized basis and a yield of 6.52%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. Enterprise Products Partners’s dividend payout ratio (DPR) 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.