Tower Bridge Advisors Sells 1,355 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tower Bridge Advisors cut its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,645 shares of the oil and gas producer’s stock after selling 1,355 shares during the quarter. Tower Bridge Advisors’ holdings in Enterprise Products Partners were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in Enterprise Products Partners in the first quarter valued at $212,000. QRG Capital Management Inc. increased its position in shares of Enterprise Products Partners by 8.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,007 shares of the oil and gas producer’s stock valued at $263,000 after purchasing an additional 677 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Enterprise Products Partners by 5.5% during the 1st quarter. Acadian Asset Management LLC now owns 212,550 shares of the oil and gas producer’s stock valued at $6,198,000 after buying an additional 11,092 shares in the last quarter. Osaic Holdings Inc. lifted its position in Enterprise Products Partners by 1.2% in the 1st quarter. Osaic Holdings Inc. now owns 1,165,422 shares of the oil and gas producer’s stock worth $34,012,000 after buying an additional 13,753 shares during the last quarter. Finally, Bahl & Gaynor Inc. purchased a new stake in Enterprise Products Partners in the first quarter worth approximately $218,000. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Price Performance

Shares of EPD stock opened at $31.09 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.68 and a current ratio of 1.07. Enterprise Products Partners L.P. has a fifty-two week low of $25.95 and a fifty-two week high of $31.33. The firm has a market cap of $67.39 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.60 and a beta of 1.04. The business’s 50 day moving average price is $29.44 and its 200-day moving average price is $29.06.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm earned $0.60 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners L.P. will post 2.69 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 6.75%. The ex-dividend date was Thursday, October 31st. Enterprise Products Partners’s dividend payout ratio is currently 78.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America began coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $34.00.

Enterprise Products Partners 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.