Tower Bridge Advisors Has $4.31 Million Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Tower Bridge Advisors reduced its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 137,345 shares of the oil and gas producer’s stock after selling 1,300 shares during the quarter. Tower Bridge Advisors’ holdings in Enterprise Products Partners were worth $4,307,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont increased its position in Enterprise Products Partners by 10.0% in the 4th quarter. Trust Co. of Vermont now owns 3,307 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 300 shares during the period. Griffin Asset Management Inc. grew its stake in shares of Enterprise Products Partners by 0.8% in the fourth quarter. Griffin Asset Management Inc. now owns 38,364 shares of the oil and gas producer’s stock worth $1,203,000 after acquiring an additional 305 shares during the last quarter. Evanson Asset Management LLC increased its position in Enterprise Products Partners by 0.4% during the fourth quarter. Evanson Asset Management LLC now owns 73,470 shares of the oil and gas producer’s stock worth $2,304,000 after acquiring an additional 306 shares during the period. Sandbox Financial Partners LLC raised its stake in Enterprise Products Partners by 3.2% during the 4th quarter. Sandbox Financial Partners LLC now owns 10,103 shares of the oil and gas producer’s stock valued at $317,000 after purchasing an additional 309 shares during the last quarter. Finally, Hardy Reed LLC boosted its holdings in Enterprise Products Partners by 2.2% in the 4th quarter. Hardy Reed LLC now owns 14,710 shares of the oil and gas producer’s stock valued at $461,000 after purchasing an additional 310 shares during the period. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Stock Performance

EPD opened at $33.41 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The company has a market capitalization of $72.41 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.37 and a beta of 1.09. Enterprise Products Partners L.P. has a 1 year low of $27.26 and a 1 year high of $34.63. The business’s 50-day moving average price is $32.85 and its two-hundred day moving average price is $31.09.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $14.20 billion for the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a return on equity of 20.48% and a net margin of 10.49%. Enterprise Products Partners’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 6.41%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, January 31st. Enterprise Products Partners’s dividend payout ratio is presently 79.55%.

Analyst Upgrades and Downgrades

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

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.