Enterprise Products Partners L.P. (NYSE:EPD) Stake Cut by Tufton Capital Management

Tufton Capital Management cut its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,209 shares of the oil and gas producer’s stock after selling 10,685 shares during the quarter. Tufton Capital Management’s holdings in Enterprise Products Partners were worth $2,799,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new stake in Enterprise Products Partners in the first quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Enterprise Products Partners by 2.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,571,535 shares of the oil and gas producer’s stock valued at $169,611,000 after buying an additional 169,059 shares during the last quarter. BlackRock Inc. lifted its stake in Enterprise Products Partners by 4.7% in the first quarter. BlackRock Inc. now owns 25,050,292 shares of the oil and gas producer’s stock valued at $646,548,000 after buying an additional 1,114,690 shares during the last quarter. Cibc World Market Inc. lifted its stake in Enterprise Products Partners by 3.2% in the first quarter. Cibc World Market Inc. now owns 89,367 shares of the oil and gas producer’s stock valued at $2,307,000 after buying an additional 2,804 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Enterprise Products Partners by 76.5% during the first quarter. Sei Investments Co. now owns 888,439 shares of the oil and gas producer’s stock valued at $22,931,000 after purchasing an additional 385,008 shares during the period. 26.07% of the stock is currently owned by institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD traded up $0.11 on Thursday, reaching $28.50. 1,741,999 shares of the stock traded hands, compared to its average volume of 4,902,401. The firm has a market cap of $61.80 billion, a price-to-earnings ratio of 11.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. Enterprise Products Partners L.P. has a 12 month low of $25.19 and a 12 month high of $29.99. The stock’s 50-day moving average price is $28.27 and its 200-day moving average price is $27.24.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. Enterprise Products Partners’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Equities analysts forecast that Enterprise Products Partners L.P. will post 2.63 EPS for the current fiscal year.

Enterprise Products Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio is 81.75%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EPD shares. Scotiabank raised their price target on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Barclays increased their price target on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 9th. Finally, Wells Fargo & Company lifted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $32.58.

About Enterprise Products Partners

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.