Enterprise Products Partners L.P. (NYSE:EPD) Shares Purchased by Tufton Capital Management

Tufton Capital Management lifted its position in Enterprise Products Partners L.P. (NYSE:EPD) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,962 shares of the oil and gas producer’s stock after acquiring an additional 403 shares during the period. Tufton Capital Management’s holdings in Enterprise Products Partners were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EPD. Rosenberg Matthew Hamilton grew its position in Enterprise Products Partners by 364.4% during the 4th quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 656 shares during the period. Assetmark Inc. grew its position in Enterprise Products Partners by 19,800.0% during the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 1,188 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in Enterprise Products Partners during the 3rd quarter worth about $36,000. Bangor Savings Bank grew its position in shares of Enterprise Products Partners by 558.3% during the 4th quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at about $40,000. 26.07% of the stock is owned by institutional investors and hedge funds.

Enterprise Products Partners Price Performance

Enterprise Products Partners stock opened at $32.85 on Friday. The stock 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 fifty day simple moving average of $32.80 and a 200-day simple moving average of $31.05. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month high of $34.63. 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) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company earned $0.72 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Increases Dividend

The business also recently declared 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 of this dividend was Friday, January 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 dividend on an annualized basis and a yield of 6.52%. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EPD. Scotiabank began coverage on Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of Enterprise Products Partners in a research note on Tuesday, February 18th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.70.

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.