Tectonic Advisors LLC Acquires 36,863 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tectonic Advisors LLC grew its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 7.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 541,213 shares of the oil and gas producer’s stock after acquiring an additional 36,863 shares during the period. Enterprise Products Partners comprises 1.0% of Tectonic Advisors LLC’s holdings, making the stock its 15th largest holding. Tectonic Advisors LLC’s holdings in Enterprise Products Partners were worth $15,755,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EPD. Kingswood Wealth Advisors LLC acquired a new stake in shares of Enterprise Products Partners during the first quarter worth $510,000. Wealthcare Advisory Partners LLC grew its holdings in Enterprise Products Partners by 511.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 68,076 shares of the oil and gas producer’s stock worth $1,986,000 after purchasing an additional 56,938 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Enterprise Products Partners by 3.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 910,198 shares of the oil and gas producer’s stock worth $26,560,000 after purchasing an additional 28,767 shares during the period. Financial Management Professionals Inc. grew its holdings in Enterprise Products Partners by 1,249.9% in the first quarter. Financial Management Professionals Inc. now owns 36,352 shares of the oil and gas producer’s stock worth $1,061,000 after purchasing an additional 33,659 shares during the period. Finally, Avity Investment Management Inc. acquired a new stake in Enterprise Products Partners in the first quarter worth $1,587,000. Institutional investors own 26.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Bank of America assumed coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $33.73.

Enterprise Products Partners Stock Up 0.2 %

EPD opened at $29.04 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.91 and a quick ratio of 0.68. The company’s 50-day moving average is $29.25 and its 200 day moving average is $28.95. Enterprise Products Partners L.P. has a fifty-two week low of $25.61 and a fifty-two week high of $30.05. The firm has a market capitalization of $63.05 billion, a P/E ratio of 11.39, a PEG ratio of 1.49 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas producer reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The business’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend is Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is 82.35%.

Enterprise Products Partners Company 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. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.