22,457 Enterprise Products Partners L.P. $EPD Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 443,070 shares of the oil and gas producer’s stock after buying an additional 22,457 shares during the period. Tectonic Advisors LLC’s holdings in Enterprise Products Partners were worth $15,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EPD. Energy Income Partners LLC purchased a new position in shares of Enterprise Products Partners in the 2nd quarter valued at approximately $508,461,000. Bank of America Corp DE purchased a new stake in Enterprise Products Partners in the second quarter worth $416,553,000. BlackRock Inc. bought a new position in Enterprise Products Partners in the second quarter worth $255,325,000. Berkley W R Corp purchased a new position in Enterprise Products Partners during the second quarter valued at $250,887,000. Finally, Corient Private Wealth LP purchased a new position in Enterprise Products Partners during the second quarter valued at $99,119,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EPD. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 target price on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. Weiss Ratings raised Enterprise Products Partners from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, October 16th. Stifel Nicolaus started coverage on Enterprise Products Partners in a report on Thursday, September 10th. They set a “hold” rating and a $40.00 price target for the company. Capital One Financial started coverage on Enterprise Products Partners in a report on Tuesday, September 22nd. They set an “equal weight” rating and a $42.00 price target for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $41.00 price target (up from $40.00) on shares of Enterprise Products Partners in a research report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.12.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.56 during mid-day trading on Friday, hitting $37.08. 2,730,272 shares of the company traded hands, compared to its average volume of 3,923,327. The stock has a market cap of $80.06 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.30 and a beta of 0.50. The stock has a 50-day moving average price of $37.74 and a two-hundred day moving average price of $37.79. Enterprise Products Partners L.P. has a 1 year low of $30.02 and a 1 year high of $40.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $18.27 billion during the quarter, compared to analyst estimates of $13.69 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. Enterprise Products Partners’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Equities analysts anticipate that Enterprise Products Partners L.P. will post 3.10 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.0%. Enterprise Products Partners’s dividend payout ratio is 77.78%.

Key Headlines Impacting Enterprise Products Partners

Here are the key news stories impacting Enterprise Products Partners this week:

• Positive Sentiment: Strong dividend track record: Enterprise Products Partners has increased its distribution for 28 consecutive years, reinforcing its reputation as a reliable income investment. Its high yield is attracting investors seeking returns above those available from many savings products. 2 No-Brainer High-Yield Energy Stocks to Buy Right Now
• Positive Sentiment: Distribution appears well covered: One analysis says EPD covers its payout approximately 1.9 times, suggesting a meaningful cushion for its distribution and supporting the stock’s appeal among conservative income investors. Enterprise Products Covers Its Payout 1.9 Times
• Positive Sentiment: Potentially attractive valuation: Despite a roughly 121% five-year total return, commentary suggests the units may still trade below fair value based on the partnership’s earnings power, leaving room for further appreciation if results remain solid. EPD Stock Looks Below Fair Value
• Neutral Sentiment: Earnings are the next major event: Enterprise Products Partners was expected to release quarterly results Thursday. Investors will look for evidence that operating cash flow, earnings and distribution coverage continue to support the partnership’s income proposition. EPD Expected to Release Quarterly Earnings
• Negative Sentiment: Cash-flow risks remain: Analysts caution that headline pipeline yields do not alone prove distributions are safe; investors should examine underlying cash flow, capital spending and leverage. This could limit enthusiasm if coverage deteriorates. This Energy Giant’s High Dividend Yield Is Backed by an Important Number

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.