Tufton Capital Management Sells 10,685 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tufton Capital Management decreased its holdings in Enterprise Products Partners L.P. (NYSE:EPD) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 106,209 shares of the oil and gas producer’s stock after selling 10,685 shares during the period. Tufton Capital Management’s holdings in Enterprise Products Partners were worth $2,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Waterfront Wealth Inc. increased its stake in shares of Enterprise Products Partners by 1.7% in the 4th quarter. Waterfront Wealth Inc. now owns 36,732 shares of the oil and gas producer’s stock valued at $968,000 after purchasing an additional 603 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in shares of Enterprise Products Partners in the 4th quarter valued at $804,000. Avior Wealth Management LLC increased its stake in shares of Enterprise Products Partners by 4.4% in the 4th quarter. Avior Wealth Management LLC now owns 10,859 shares of the oil and gas producer’s stock valued at $286,000 after purchasing an additional 455 shares during the last quarter. United Asset Strategies Inc. increased its stake in shares of Enterprise Products Partners by 7.0% in the 4th quarter. United Asset Strategies Inc. now owns 23,172 shares of the oil and gas producer’s stock valued at $611,000 after purchasing an additional 1,506 shares during the last quarter. Finally, SVB Wealth LLC increased its stake in shares of Enterprise Products Partners by 10.5% in the 4th quarter. SVB Wealth LLC now owns 16,498 shares of the oil and gas producer’s stock valued at $435,000 after purchasing an additional 1,563 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EPD. Scotiabank raised their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a report on Friday, April 5th. Barclays lifted their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Stifel Nicolaus lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.58.

Enterprise Products Partners Stock Up 0.4 %

EPD traded up $0.11 during midday trading on Thursday, reaching $28.50. 1,741,999 shares of the company were exchanged, compared to its average volume of 4,902,401. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. The company’s fifty day moving average price is $28.27 and its 200 day moving average price is $27.24. The company has a market cap of $61.80 billion, a price-to-earnings ratio of 11.31 and a beta of 1.02. Enterprise Products Partners L.P. has a one year low of $25.19 and a one year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts expect that Enterprise Products Partners L.P. will post 2.63 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. The ex-dividend date is Monday, April 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.23%. Enterprise Products Partners’s payout ratio is presently 81.75%.

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.