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

Tower Bridge Advisors lowered its position in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EPD. Hantz Financial Services Inc. bought a new stake in Enterprise Products Partners during the second quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in shares of Enterprise Products Partners during the second quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Enterprise Products Partners by 1,000.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 1,100 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Assetmark Inc. grew its stake in shares of Enterprise Products Partners by 19,800.0% in the 3rd quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Enterprise Products Partners during the 3rd quarter valued at approximately $36,000. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Up 0.9 %

NYSE:EPD opened at $31.09 on Friday. The company has a market cap of $67.39 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.04. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $29.44 and a two-hundred day simple moving average of $29.06. Enterprise Products Partners L.P. has a 12 month low of $25.95 and a 12 month high of $31.33.

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

Enterprise Products Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 payout ratio is currently 78.65%.

Analysts Set New Price Targets

Several research firms have commented on EPD. Bank of America initiated coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 target price on the stock. StockNews.com downgraded shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Truist Financial boosted their price objective on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.00.

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.