Tufton Capital Management Has $2.74 Million Stock Position in Enterprise Products Partners L.P. $EPD

Tufton Capital Management reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,296 shares of the oil and gas producer’s stock after selling 3,990 shares during the quarter. Tufton Capital Management’s holdings in Enterprise Products Partners were worth $2,738,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Next Capital Management LLC grew its stake in shares of Enterprise Products Partners by 2.3% during the 2nd quarter. Next Capital Management LLC now owns 14,625 shares of the oil and gas producer’s stock worth $454,000 after acquiring an additional 332 shares in the last quarter. Per Stirling Capital Management LLC. grew its stake in shares of Enterprise Products Partners by 1.5% during the 1st quarter. Per Stirling Capital Management LLC. now owns 23,556 shares of the oil and gas producer’s stock worth $804,000 after acquiring an additional 339 shares in the last quarter. Tranquility Partners LLC grew its stake in shares of Enterprise Products Partners by 1.4% during the 2nd quarter. Tranquility Partners LLC now owns 23,944 shares of the oil and gas producer’s stock worth $743,000 after acquiring an additional 339 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Enterprise Products Partners by 2.1% during the 2nd quarter. Sound Income Strategies LLC now owns 16,796 shares of the oil and gas producer’s stock worth $521,000 after acquiring an additional 340 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Enterprise Products Partners by 1.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,353 shares of the oil and gas producer’s stock worth $600,000 after acquiring an additional 347 shares in the last quarter. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Trading Down 0.7%

EPD stock opened at $30.57 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.96 and a quick ratio of 0.69. The company has a fifty day moving average price of $31.39 and a two-hundred day moving average price of $31.34. Enterprise Products Partners L.P. has a one year low of $27.77 and a one year high of $34.63. The stock has a market cap of $66.18 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, October 30th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The company had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. During the same period last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners announced that its board has authorized a share buyback program on Thursday, October 30th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the oil and gas producer to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Enterprise Products Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners’s payout ratio is 82.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EPD shares. Mizuho set a $38.00 price target on shares of Enterprise Products Partners and gave the stock an “outperform” rating in a research note on Friday, July 11th. Morgan Stanley decreased their target price on shares of Enterprise Products Partners from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 26th. Scotiabank decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, September 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Enterprise Products Partners in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus raised their target price on shares of Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.09.

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.