Tectonic Advisors LLC Buys 16,409 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

Tectonic Advisors LLC increased its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,802 shares of the oil and gas producer's stock after acquiring an additional 16,409 shares during the period. Enterprise Products Partners comprises about 1.3% of Tectonic Advisors LLC's holdings, making the stock its 12th largest holding. Tectonic Advisors LLC's holdings in Enterprise Products Partners were worth $20,033,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. increased its holdings in Enterprise Products Partners by 5.0% in the first quarter. Alps Advisors Inc. now owns 41,326,613 shares of the oil and gas producer's stock worth $1,410,891,000 after buying an additional 1,967,188 shares during the last quarter. Truist Financial Corp increased its stake in shares of Enterprise Products Partners by 293.6% in the first quarter. Truist Financial Corp now owns 2,018,964 shares of the oil and gas producer's stock worth $68,927,000 after purchasing an additional 1,506,055 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter worth approximately $36,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enterprise Products Partners by 8.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer's stock valued at $330,739,000 after purchasing an additional 851,188 shares during the last quarter. Finally, KDK Private Wealth Management LLC acquired a new position in shares of Enterprise Products Partners during the fourth quarter valued at about $22,333,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EPD. Wall Street Zen raised shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Barclays dropped their price objective on Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $37.00 price target on shares of Enterprise Products Partners in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.36.

Enterprise Products Partners Stock Down 0.0%

Shares of EPD traded down $0.01 during midday trading on Wednesday, hitting $31.50. The stock had a trading volume of 2,695,544 shares, compared to its average volume of 4,489,822. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.64. The firm has a market cap of $68.31 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.33 and a beta of 0.64. Enterprise Products Partners L.P. has a twelve month low of $27.37 and a twelve month high of $34.63. The company has a 50 day simple moving average of $31.48 and a two-hundred day simple moving average of $32.10.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.05). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $14.14 billion. Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current year.

Enterprise Products Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, July 31st will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 6.92%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, July 31st. Enterprise Products Partners's payout ratio is presently 80.15%.

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.