Tectonic Advisors LLC Acquires 30,298 Shares of Enterprise Products Partners L.P. $EPD

Key Points

• Tectonic Advisors LLC increased its stake in Enterprise Products Partners L.P. by 5.2%, acquiring an additional 30,298 shares and holding a total of 617,100 shares worth approximately $19.14 million.
• Institutional investors now own 26.07% of Enterprise Products Partners, with several firms—including JPMorgan Chase & Co.—significantly increasing their stakes during the first quarter.
• The company recently announced a quarterly dividend of $0.545 per share, marking an annualized dividend yield of 6.9%, with a payout ratio of 81.04%.

Tectonic Advisors LLC lifted its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 617,100 shares of the oil and gas producer's stock after purchasing an additional 30,298 shares during the period. Enterprise Products Partners comprises approximately 1.1% of Tectonic Advisors LLC's holdings, making the stock its 13th biggest position. Tectonic Advisors LLC's holdings in Enterprise Products Partners were worth $19,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EPD. Alps Advisors Inc. raised its stake in Enterprise Products Partners by 5.0% during the 1st quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after acquiring an additional 1,967,188 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Products Partners by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,003,573 shares of the oil and gas producer's stock worth $375,662,000 after acquiring an additional 457,045 shares during the period. Chickasaw Capital Management LLC raised its stake in Enterprise Products Partners by 1.5% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,515,066 shares of the oil and gas producer's stock worth $171,022,000 after acquiring an additional 81,135 shares during the period. BROOKFIELD Corp ON raised its stake in Enterprise Products Partners by 2.8% during the 1st quarter. BROOKFIELD Corp ON now owns 4,698,769 shares of the oil and gas producer's stock worth $160,416,000 after acquiring an additional 128,545 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Enterprise Products Partners by 65.3% during the 1st quarter. JPMorgan Chase & Co. now owns 4,347,247 shares of the oil and gas producer's stock worth $148,415,000 after acquiring an additional 1,717,768 shares during the period. Institutional investors own 26.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EPD shares. Scotiabank decreased their target price on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, September 19th. Barclays cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. Stifel Nicolaus cut their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enterprise Products Partners in a report on Wednesday. Finally, Mizuho set a $38.00 price objective on shares of Enterprise Products Partners and gave the company an "outperform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.75.

Insiders Place Their Bets

In related news, Director William C. Montgomery bought 16,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was purchased at an average cost of $31.55 per share, with a total value of $504,800.00. Following the completion of the purchase, the director owned 136,920 shares of the company's stock, valued at $4,319,826. This trade represents a 13.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John R. Rutherford bought 15,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were bought at an average cost of $31.35 per share, with a total value of $470,250.00. Following the completion of the purchase, the director directly owned 158,586 shares of the company's stock, valued at approximately $4,971,671.10. This trade represents a 10.45% increase in their position. The disclosure for this purchase can be found here. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Down 0.2%

Shares of EPD opened at $31.66 on Thursday. The company has a market cap of $68.55 billion, a PE ratio of 11.77, a P/E/G ratio of 2.25 and a beta of 0.64. The business has a fifty day moving average of $31.58 and a 200 day moving average of $31.44. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.63. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). The company had revenue of $11.36 billion during the quarter, compared to the consensus estimate of $15.24 billion. Enterprise Products Partners had a return on equity of 19.81% and a net margin of 10.71%.The firm's quarterly revenue was down 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 31st. Enterprise Products Partners's payout ratio is currently 81.04%.

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.

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