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

Tower Bridge Advisors lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EPD. Pinnacle Associates Ltd. boosted its holdings in Enterprise Products Partners by 14.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 132,696 shares of the oil and gas producer’s stock valued at $3,863,000 after purchasing an additional 16,371 shares during the period. HM Payson & Co. raised its position in shares of Enterprise Products Partners by 8.7% in the third quarter. HM Payson & Co. now owns 38,473 shares of the oil and gas producer’s stock valued at $1,120,000 after buying an additional 3,081 shares in the last quarter. US Bancorp DE boosted its stake in shares of Enterprise Products Partners by 0.9% in the third quarter. US Bancorp DE now owns 688,851 shares of the oil and gas producer’s stock valued at $20,052,000 after buying an additional 6,267 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in Enterprise Products Partners by 0.4% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 278,960 shares of the oil and gas producer’s stock worth $8,121,000 after buying an additional 1,000 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its stake in Enterprise Products Partners by 1,389.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 34,706 shares of the oil and gas producer’s stock worth $1,010,000 after acquiring an additional 32,376 shares during the period. Institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on EPD shares. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research note on Wednesday, December 18th. Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Truist Financial upped their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Scotiabank assumed coverage on shares of Enterprise Products Partners in a research report on Friday, January 10th. They set a “sector perform” rating and a $33.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.70.

Enterprise Products Partners Stock Performance

NYSE EPD opened at $33.41 on Friday. Enterprise Products Partners L.P. has a fifty-two week low of $27.26 and a fifty-two week high of $34.63. The stock has a market cap of $72.41 billion, a PE ratio of 12.42, a PEG ratio of 1.37 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The firm’s fifty day moving average price is $32.85 and its two-hundred day moving average price is $31.09.

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

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.